Effects of richer feedback and endogenous stopping/resubmission on optimal search

Investigate how allowing richer feedback and state-transition processes (beyond the simple probability q_i that a low-quality paper becomes high quality upon rejection) and relaxing the exogenous stopping and no-resubmission assumptions affect the optimal submission strategy in the sequential search without recall model. Determine the resulting optimal policies under these modifications and characterize how they alter the search order and outcomes relative to the baseline model analyzed in the paper.

Background

The model restricts feedback to a simple state transition (low-quality to high-quality with probability q_i after rejection), and assumes exogenous stopping and no resubmission. These stylizations facilitate the main results on monotone optimality under weak feedback but limit generality.

In the conclusion, the author explicitly highlights that permitting richer information and state-transition structures, and relaxing exogenous stopping and no-resubmission, may be important for other sequential-search contexts. The author states that understanding the effects of these modifications on optimal search remains open, identifying a concrete direction for future research.

References

In addition, the type of feedback, modelled simply as a potential state transition, is also restrictive: future work should allow for richer information and state transition probabilities. Finally, relaxing the exogenous stopping and no-resubmission policies, while potentially implausible when studying journal-submission decisions, may be useful in understanding other sequential search settings such as the job market, and help better compare the current framework with multi-armed bandit models. The effects these modifications have on optimal search remain open and a fruitful area for future research.

When and Where To Submit A Paper (2402.01745 - Luo, 29 Jan 2024) in Conclusion (Section 4)