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uchicago-computation-workshop / ali_hortacsu

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about cost function #17

Open jfan3 opened 6 years ago

jfan3 commented 6 years ago

Why choose a Weilbull distribution for cost function? Isn't Weibull distribution mostly applied to describe a product's life cycle with differing failure rates?

zundaxu commented 6 years ago

I have the same question, so I hope the professor could give more detailed explanation about why he chose this distribution for the cost in his model !