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Searching for a better deal ? On the influence of group decision making, time pressure and gender in a search experiment

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  • Marcela Ibanez

    ()

  • Simon Czermak

    ()

  • Matthias Sutter

    ()

Abstract

We study behavior in a search experiment where sellers receive randomized bids from a computer. At any time, sellers can accept the highest standing bid or ask for another bid at positive costs. We find that sellers stop searching earlier than theoretically optimal. Inducing a mild form of time pressure strengthens this finding in the early periods. There are marked gender differences. Men search significantly shorter than women. If subjects search in groups of two subjects, there is no difference to individual search, but teams of two women search much longer than men and recall more frequently.

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Bibliographic Info

Paper provided by Faculty of Economics and Statistics, University of Innsbruck in its series Working Papers with number 2008-05.

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Handle: RePEc:inn:wpaper:2008-05

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Keywords: Search experiment; Time; Group decision; Gender differences;

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  17. Sutter, Matthias & Kocher, Martin & Strau[ss], Sabine, 2003. "Bargaining under time pressure in an experimental ultimatum game," Economics Letters, Elsevier, Elsevier, vol. 81(3), pages 341-347, December.
  18. Wolfgang J. Luhan & Martin G. Kocher & Matthias Sutter, 2006. "Group Polarization in the Team Dictator Game reconsidered," Tinbergen Institute Discussion Papers 06-099/1, Tinbergen Institute.
  19. Eckel, Catherine C. & Grossman, Philip J., 2008. "Differences in the Economic Decisions of Men and Women: Experimental Evidence," Handbook of Experimental Economics Results, Elsevier, Elsevier.
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  22. Renate Schubert, 1999. "Financial Decision-Making: Are Women Really More Risk-Averse?," American Economic Review, American Economic Association, American Economic Association, vol. 89(2), pages 381-385, May.
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