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An Experimental Test of a Search Model under Ambiguity

Author

Listed:
  • Asano, Takao

    () (Okayama University)

  • Okudaira, Hiroko

    () (Okayama University)

  • Sasaki, Masaru

    () (Osaka University)

Abstract

This paper's objective 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 new approach to observe the potential trend of reservation points that is usually unobserved. We observe a significant dip in a trend of reservation points when subjects are faced with ambiguity over wage distributions.

Suggested Citation

  • Asano, Takao & Okudaira, Hiroko & Sasaki, Masaru, 2014. "An Experimental Test of a Search Model under Ambiguity," IZA Discussion Papers 7933, Institute for the Study of Labor (IZA).
  • Handle: RePEc:iza:izadps:dp7933
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    References listed on IDEAS

    as
    1. Urs Fischbacher, 2007. "z-Tree: Zurich toolbox for ready-made economic experiments," Experimental Economics, Springer;Economic Science Association, vol. 10(2), pages 171-178, June.
    2. 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 301-329, September.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    experiment; search model; ambiguity; reservation wage;

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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