An Experimental Test of a Committee Search Model
AbstractThe 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 find that, compared with single-agent search, the search duration is longer for committee search under the unanimity rule, but is shorter for committee search in which at least one vote is required to stop searching. In addition, according to estimates from round-based search decisions, subjects are more likely to vote to stop searching in committee search than in single-agent search. This confirms that agents are less picky in committee search. Overall, the experimental outcomes are consistent with the implications suggested by the AAV model. However, despite the prediction from the AAV model, we could not obtain a significant outcome in relation to the size order of the probabilities of voting to stop searching in committee search for the various plurality voting rules.
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.
Bibliographic InfoPaper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 6861.
Length: 43 pages
Date of creation: Sep 2012
Date of revision:
Publication status: published in: European Economic Review, 2013, 61, 59-76
Contact details of provider:
Postal: IZA, P.O. Box 7240, D-53072 Bonn, Germany
Phone: +49 228 3894 223
Fax: +49 228 3894 180
Web page: http://www.iza.org
Postal: IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany
Other versions of this item:
- C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search, Learning, and Information
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-10-06 (All new papers)
- NEP-CDM-2012-10-06 (Collective Decision-Making)
- NEP-EXP-2012-10-06 (Experimental Economics)
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.
- Susan Vroman & Axel Anderson & James Albrecht, 2007.
"Search by Committee,"
2007 Meeting Papers
351, Society for Economic Dynamics.
- Albrecht, James & Anderson, Axel Z. & Vroman, Susan, 2007. "Search by Committee," IZA Discussion Papers 3137, Institute for the Study of Labor (IZA).
- James Albrecht & Axel Anderson & Susan Vroman, 2007. "Search by Committee," Working Papers gueconwpa~07-07-09, Georgetown University, Department of Economics.
- Harrison, Glenn W & Morgan, Peter, 1990. "Search Intensity in Experiments," Economic Journal, Royal Economic Society, vol. 100(401), pages 478-86, June.
- Schunk, Daniel & Winter, Joachim, 2009.
"The relationship between risk attitudes and heuristics in search tasks: A laboratory experiment,"
Journal of Economic Behavior & Organization,
Elsevier, vol. 71(2), pages 347-360, August.
- Schunk, Daniel & Winter, Joachim, 2004. "The Relationship Between Risk Attitudes and Heuristics in Search Tasks: A Laboratory Experiment," Sonderforschungsbereich 504 Publications 04-23, Sonderforschungsbereich 504, Universität Mannheim & Sonderforschungsbereich 504, University of Mannheim.
- Schunk, Daniel & Winter, Joachim, 2007. "The Relationship Between Risk Attitudes and Heuristics in Search Tasks: A Laboratory Experiment," Discussion Papers in Economics 1377, University of Munich, Department of Economics.
- Daniel Schunk & Joachim Winter, 2005. "The Relationship Between Risk Attitudes and Heuristics in Search Tasks: A Laboratory Experiment," MEA discussion paper series 05077, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
- Cramer, J. S. & Hartog, J. & Jonker, N. & Van Praag, C. M., 2002. "Low risk aversion encourages the choice for entrepreneurship: an empirical test of a truism," Journal of Economic Behavior & Organization, Elsevier, vol. 48(1), pages 29-36, May.
- Schunk, Daniel, 2009. "Behavioral heterogeneity in dynamic search situations: Theory and experimental evidence," Journal of Economic Dynamics and Control, Elsevier, vol. 33(9), pages 1719-1738, September.
- Boone, Jan & Sadrieh, Abdolkarim & van Ours, Jan C., 2004.
"Experiments on Unemployment Benefit Sanctions and Job Search Behavior,"
IZA Discussion Papers
1000, Institute for the Study of Labor (IZA).
- Boone, Jan & Sadrieh, Abdolkarim & van Ours, Jan C., 2009. "Experiments on unemployment benefit sanctions and job search behavior," European Economic Review, Elsevier, vol. 53(8), pages 937-951, November.
- Boone, Jan & Sadrieh, Abdolkarim & van Ours, Jan C, 2004. "Experiments on Unemployment Benefit Sanctions and Job Search Behaviour," CEPR Discussion Papers 4298, C.E.P.R. Discussion Papers.
- Boone, J. & Sadrieh, A. & Ours, J.C. van, 2004. "Experiments on Unemployment Benefit Sanctions and Job Search Behavior," Discussion Paper 2004-8, Tilburg University, Center for Economic Research.
- Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer, vol. 10(2), pages 171-178, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Fallak).
If references are entirely missing, you can add them using this form.