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Title: An Experimental Test of a Search Model under Ambiguity
Authors: Asano, Takao
Okudaira, Hiroko
Sasaki, Masaru
Keywords: Experiment
Search Model
Reservation Point
Issue Date: Jan-2015
Publisher: Institute of Economic Research, Kyoto University
Journal title: KIER Discussion Paper
Volume: 913
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 (Journal of Economic Theory 2004)
Appears in Collections:KIER Discussion Paper (English)

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