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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...
Persistent link: https://www.econbiz.de/10014237759
-based learning model, we conduct a multi-period, binary-choice, and weakest-link laboratory coordination experiment to study the …This study investigates a potential mechanism to promote coordination. With theoretical guidance using a belief … level of contribution immediately - on group coordination performance. We randomly assign subjects to three treatments …
Persistent link: https://www.econbiz.de/10012058134
coordination fallacy, a violation of monotonicity whereby the probability weight placed on a symmetric coordination profile of the … coordination profile. …
Persistent link: https://www.econbiz.de/10012488822
test theoretical predictions. In the theoretical part of the study, there exists one and only one pivotal voter, who can …
Persistent link: https://www.econbiz.de/10012956020
This paper studies the impact of Knightian uncertainty on the disposition of individuals in the lab to seize an irreversible investment. Subjects had the option to trade a safe endowment for a claim on the sum of future realizations from a geometric random walk. The drift of this profit process...
Persistent link: https://www.econbiz.de/10013020553
present the results of an experiment that tests, and supports, the key prediction of our model analysis – limited information …
Persistent link: https://www.econbiz.de/10013035331
makes a number of predictions, which we test in a laboratory experiment. The experiment varies (1) whether freezing is …
Persistent link: https://www.econbiz.de/10012911774
We investigate the overall impact of stock-out on individual consumers' information search behavior through both search-theoretic and experimental approaches. As the probability of stock-out increases, search intensity decreases, while the expected number of searches may increase. Such increases...
Persistent link: https://www.econbiz.de/10014031559
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 …
Persistent link: https://www.econbiz.de/10013099709
We study behavior in a search experiment where sellers receive randomized bids from a computer. At any time, sellers …. -- search experiment ; time ; group decision ; gender differences …
Persistent link: https://www.econbiz.de/10009731791