An Experimental Test of a Search Model under Ambiguity

Takao Asano (asano@e.okayama-u.ac.jp), Hiroko Okudaira (okudaira@e.okayama-u.ac.jp) and Masaru Sasaki (sasaki@econ.osaka-u.ac.jp)
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Takao Asano: Okayama University
Hiroko Okudaira: Okayama University

No 7933, IZA Discussion Papers from Institute of Labor Economics (IZA)

Abstract: This paper's objective is to design a laboratory experiment to explore the effect of ambiguity on a subject's search behavior in a finite-horizon sequential search model. In so doing, we employ a new approach to observe the potential trend of reservation points that is usually unobserved. We observe a significant dip in a trend of reservation points when subjects are faced with ambiguity over wage distributions.

Keywords: experiment; search model; ambiguity; reservation wage (search for similar items in EconPapers)
JEL-codes: C91 D81 (search for similar items in EconPapers)
Pages: 13 pages
Date: 2014-01
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-upt
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published - published in: Theory and Decision, 2015, 79, 627-637

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