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Discussion Papers In Economics And Business. 2017, 17-17, p. 1-16

The effect of risk attitudes on search behavior : A laboratory search experiment

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

text

2017-06

http://www2.econ.osaka-u.ac.jp/library/global/dp/1717.pdf

This paper tests the effect of risk preferences on search activities by using a laboratory experiment. We used an infinite-horizon sequential search model with no recall in which an individual gains over search. We elicit the risk preferences from observed search activities of participants and from the multiple price list (MPL) method. We found the statistically significant effect of risk preferences elicited from the MPL method on the duration of search. The search duration is on average shorter for a risk averse individual than for risk loving one, which is consistent with the theoretical prediction. The significant effect of risk preferences on search activities has not been observed in the previous literature that used search model with recall in which an individual pays from the initial endowment over search (Schunk 2009, Schunk and Winter 2009). Therefore, the correlation between risk preferences and search activities depends on the type of search models.

62184

The effect of risk attitudes on search behavior : A laboratory search experiment

Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University

英語

2017-06

Discussion Papers In Economics And Business

17-17

1

16

https://hdl.handle.net/11094/62184

http://www2.econ.osaka-u.ac.jp/library/global/dp/1717.pdf