An Experimental Test of a Search Model under Ambiguity

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.

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Year of publication:	2014
Authors:	Asano, Takao ; Okudaira, Hiroko ; Sasaki, Masaru
Publisher:	Bonn : Institute for the Study of Labor (IZA)
Subject:	experiment \| search model \| ambiguity \| reservation wage

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Series:	IZA Discussion Papers ; 7933
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	778083535 [GVK] hdl:10419/93358 [Handle] RePEc:iza:izadps:dp7933 [RePEc]
Classification:	C91 - Laboratory, Individual Behavior ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	EconStor

Persistent link: https://www.econbiz.de/10010333340