Recall searching with and without recall

Daniela Di Cagno, Tibor Neugebauer, Carlos Rodriguez-Palmero and Abdolkarim Sadrieh

Theory and Decision, 2014, vol. 77, issue 3, 297-311

Abstract: We revisit the sequential search problem by Hey (J Econ Behav Organ 8:137–144, 1987 ). In a 2 $$\times $$ × 2 factorial design, varying fixed and random cost treatments with and without recall, we address open research questions that were originally stated by Hey ( 1987 ). Our results provide clear evidence for Hey’s ( 1987 ) conjecture that recall negatively affects performance in sequential search. With experience, however, search behavior with and without recall converges toward the optimal reservation rule. We further find that the utilization of optimal reservation rules is independent from the stochastic nature of the search cost. Copyright Springer Science+Business Media New York 2014

Keywords: Experiments; Search; Stopping rule; Recall effect; C90; D53; D92; G02; G11; G12 (search for similar items in EconPapers)
Date: 2014
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Working Paper: Recall Searching with and without Recall (2014)
Working Paper: Recall Searching with and without Recall (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:kap:theord:v:77:y:2014:i:3:p:297-311

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DOI: 10.1007/s11238-014-9444-1

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