Decisions and strategies in a sequential search experiment
AbstractThe strategy method is becoming an important tool in experimentalmethodology. This study examines how well this method works in anindividual decision experiment. Subjects are faced with a sequentialsearch problem. After extensive practice solving the problem andformulating strategies, they play 20 periods for money. In eachperiod the subjects first make decisions by hand, and after thattheir strategy operates on the same sequence of bids. Each periodonly one of the results is paid out (randomly determined). After eachperiod subjects can change their strategy. This method makes a directcomparison between strategies and decisions possible.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Psychology.
Volume (Year): 21 (2000)
Issue (Month): 1 (February)
Contact details of provider:
Web page: http://www.elsevier.com/locate/joep
Other versions of this item:
- Joep Sonnemans, 1998. "Decision and Strategies in a Sequential Search Experiment," Tinbergen Institute Discussion Papers 98-032/1, Tinbergen Institute.
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Cox, James C & Oaxaca, Ronald L, 1989. " Laboratory Experiments with a Finite-Horizon Job-Search Model," Journal of Risk and Uncertainty, Springer, vol. 2(3), pages 301-29, September.
- Kogut, Carl A., 1990. "Consumer search behavior and sunk costs," Journal of Economic Behavior & Organization, Elsevier, vol. 14(3), pages 381-392, December.
- Cox, James C & Oaxaca, Ronald L, 1992. "Direct Tests of the Reservation Wage Property," Economic Journal, Royal Economic Society, vol. 102(415), pages 1423-32, November.
- Hey, John D., 1987. "Still searching," Journal of Economic Behavior & Organization, Elsevier, vol. 8(1), pages 137-144, March.
- Theo Offerman & Jan PottersHarry A.A. Verbon & Harry A.A. Verbon, 1999.
"Cooperation in an Overlapping Generations Experiment,"
Tinbergen Institute Discussion Papers
99-019/1, Tinbergen Institute.
- Offerman, Theo & Potters, Jan & Verbon, Harrie A. A., 2001. "Cooperation in an Overlapping Generations Experiment," Games and Economic Behavior, Elsevier, vol. 36(2), pages 264-275, August.
- Offerman, T.J.S. & Potters, J.J.M. & Verbon, H.A.A., 2001. "Cooperation in an overlapping generations experiment," Open Access publications from Tilburg University urn:nbn:nl:ui:12-86814, Tilburg University.
- Reinhard Selten & Michael Mitzkewitz & Gerald R. Uhlich, 1997.
"Duopoly Strategies Programmed by Experienced Players,"
Econometric Society, vol. 65(3), pages 517-556, May.
- Selten,Reinhard & Mitzkewitz,Michael & Uhlich,Gerald, . "Duopoly strategies programmed by experienced players," Discussion Paper Serie B 106, University of Bonn, Germany.
- W. Guth & R. Tietz, 2010. "Ultimatum bargaining behavior: a survey and comparison of results," Levine's Working Paper Archive 295, David K. Levine.
- Schotter, Andrew & Braunstein, Yale M, 1981. "Economic Search: An Experimental Study," Economic Inquiry, Western Economic Association International, vol. 19(1), pages 1-25, January.
- Guth, Werner & Tietz, Reinhard, 1990. "Ultimatum bargaining behavior : A survey and comparison of experimental results," Journal of Economic Psychology, Elsevier, vol. 11(3), pages 417-449, September.
- Sonnemans, Joep, 1998. "Strategies of search," Journal of Economic Behavior & Organization, Elsevier, vol. 35(3), pages 309-332, April.
- Werner Guth & Reinhard Tietz, 1997. "Ultimatum bargaining behavior: a survey and comparison of experimental results," Levine's Working Paper Archive 1160, David K. Levine.
- Mitzkewitz, Michael & Nagel, Rosemarie, 1993. "Experimental Results on Ultimatum Games with Incomplete Information," International Journal of Game Theory, Springer, vol. 22(2), pages 171-98.
This item has more than 25 citations. To prevent cluttering this page, these citations are listed on a separate page. reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wendy Shamier).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.