An experimental test of a search model under ambiguity

Takao Asano, Hiroko Okudaira and Masaru Sasaki ()

Theory and Decision, 2015, vol. 79, issue 4, 627-637

Abstract: The objective of this study 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 strategy to observe the potential trend of reservation points that is usually unobserved. We observe that subjects behaving consistently across treatments reduce their reservation points in the face of ambiguity over point distribution. Our result is consistent with the theoretical implication obtained by Nishimura and Ozaki (J Econ Theory 119:299–333, 2004 ). Copyright Springer Science+Business Media New York 2015

Keywords: Experiment; Search model; Ambiguity; Reservation point; C91; D81 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s11238-015-9488-x

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