An experimental test of a search model under ambiguity

Takao Asano, Hiroko Okudaira, Masaru Sasaki

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

The objective of this study 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 strategy to observe the potential trend of reservation points that is usually unobserved. We observe that subjects behaving consistently across treatments reduce their reservation points in the face of ambiguity over point distribution. Our result is consistent with the theoretical implication obtained by Nishimura and Ozaki (J Econ Theory 119:299–333, 2004).

Original languageEnglish
Pages (from-to)627-637
Number of pages11
JournalTheory and Decision
Volume79
Issue number4
DOIs
Publication statusPublished - Dec 1 2015

Keywords

  • Ambiguity
  • Experiment
  • Reservation point
  • Search model

ASJC Scopus subject areas

  • Decision Sciences(all)
  • Developmental and Educational Psychology
  • Arts and Humanities (miscellaneous)
  • Applied Psychology
  • Social Sciences(all)
  • Economics, Econometrics and Finance(all)
  • Computer Science Applications

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