Recall Searching with and without Recall

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

LSF Research Working Paper Series from Luxembourg School of Finance, University of Luxembourg

Abstract: We revisit the sequential search problem by Hey (1987). In a 2x2 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 behaviour with and without recall converges towards the optimal reservation rule. We further find that the utilization of optimal reservation rules is independent from the stochastic nature of the search cost.

JEL-codes: C90 D53 D92 G02 G11 G12 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-exp
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Citations: View citations in EconPapers (2)

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Related works:
Journal Article: 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:crf:wpaper:14-09

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