Güth, Werner; Martin, Ev; Weiland, Torsten - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2006
We experimentally explore individual and interactive decision making ina sequential search task and test whether …)adequately explain the observed search behavior. Subjects can, at acost, employ screening and selection methods facilitating their search … experimentation. Contrary to popular theoriesof sequential search, aspiration levels are set below the maximum valueof all previously …