Searching for a better deal - on the influence of group decision making, time pressure and gender in a search experiment

Marcela Ibanez (), Simon Czermak () and Matthias Sutter ()
Additional contact information
Marcela Ibanez: Department of Economics, School of Business, Economics and Law, Göteborg University, Postal: Box 640, SE 40530 GÖTEBORG
Simon Czermak: University of Innsbruck

No 296, Working Papers in Economics from Göteborg University, Department of Economics

Abstract: We study behavior in a search experiment where sellers receive randomized bids from a computer. At any time, sellers can accept the highest standing bid or ask for another bid at positive costs. We find that sellers stop searching earlier than theoretically optimal. Inducing a mild form of time pressure strengthens this finding in the early periods. There are marked gender differences. Men search significantly shorter than women. If subjects search in groups of two subjects, there is no difference to individual search, but teams of two women search much longer than men and recall more frequently.

Keywords: Search experiment; Time; Group decision; Gender differences (search for similar items in EconPapers)
JEL-codes: C91 C92 D83 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cbe, nep-exp and nep-lab
Date: 2008-03-31

Published in Journal of Economic Psychology, 2009, pages 1-10.

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Working Paper: Searching for a better deal – On the influence of group decision making, time pressure and gender in a search experiment
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Persistent link: http://EconPapers.repec.org/RePEc:hhs:gunwpe:0296

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