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Decreasing returns to sampling without replacement
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AI
DOI：10.1016/j.econlet.2026.112956.png)
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Abstract
En 中文
We study sampling from a finite population without replacement when seeking an extreme (lowest or highest) value. An example is a buyer searching for the lowest price. It is well known that there are decreasing returns to sampling from continuous populations: the expected minimum is a decreasing and discretely convex function of the sample size. We show that this holds when sampling without replacement from a finite population. We also state a sufficient condition on population values for the properties to hold for other order statistics.
Keywords:
Order statistics
Sampling without replacement
Decreasing returns
Consumer search
Journal
E
IF:
1.8
Papers:
345
Citations:
0