Collective Progress: Dynamics of Exit Waves
研究团队集体搜索中成员何时停止搜索并实施最佳发现的决策，刻画了均衡与最优策略，发现退出波具有确定性顺序但随机时机，且均衡速度常低于最优。
We introduce a framework for studying collective search by teams. Discoveries are correlated over time and governed by a Brownian path, where search speed is jointly controlled. Agents individually choose when to cease search and implement their best discovery. We characterize equilibrium and optimal policies. Search speeds are constant within active alliances and depend on complementarities between members. A drawdown stopping boundary governs each agent’s search termination. The consequent exit waves, whereby possibly heterogeneous agents cease search simultaneously, exhibit deterministic sequencing but stochastic timing. We highlight environments with lower than optimal equilibrium speeds and search durations, and different exit waves.