This chapter is concerned with laboratory tests of job search models. Formal models of job search specify certain common elements, i.e., the length of the search horizon, the searcher's discounting rate of interest, the net costs (subsidies) to search in each period of the search horizon, and...

The objective of this paper is to design a laboratory experiment for an infinite-horizon sequential committee search model in order to test some of the implications obtained by the model in Albrecht, Anderson, and Vroman (2010) (AAV). We find that, compared with single-agent search, the search...

The current paper defines the optimal sequential information gathering structure of rational utility maximizer decision makers and illustrates numerically how their incentives to gather information among different goods decrease in their degree of risk aversion

We study a setting where a buyer chooses one of several available options whose values are initially unknown but can be discovered through costly search. Search is sequential, with perfect recall, which implies it is optimal for the buyer to search until the best option encountered so far...

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...