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

Miura, Takahiro; Inukai, Keigo; Sasaki, Masaru

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

Miura, Takahiro; Inukai, Keigo; Sasaki, Masaru

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

Number of Access:419（2025-07-18 17:26 Counts）

Identifier to cite or link to this item: https://hdl.handle.net/11094/62184

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Title	The effect of risk attitudes on search behavior : A laboratory search experiment
Creator	CreatorName Miura, Takahiro
	NRID 1000080706945 1000080706945 CreatorName Inukai, Keigo
	NRID 1000010340647 1000010340647 researchmap permalink masaru_sasaki masaru_sasaki Scopus Author ID 36026902400 36026902400 CreatorName Sasaki, Masaru
Subject	Risk preference
	Sequential search
	MPL
Abstract	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.
Publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
Source Title	Discussion Papers In Economics And Business
Volume (Issue)	17-17
Page	1-16
Date of Issued	2017-06
Language	English
Handle URL	https://hdl.handle.net/11094/62184
NCID	AA1160366X
Relation.references	URI http://www2.econ.osaka-u.ac.jp/library/global/dp/1717.pdf
Access Rights	metadata only access
Category	ディスカッション／ワーキング・ペーパー DP/WP
Category	Discussion Papers In Economics And Business

Resource Type	technical report
Local Type	DP/WP
DCMI Type	Text
DCTERMS.bibliographicCitation	Discussion Papers In Economics And Business. 2017, 17-17, p. 1-16
DC.title	The effect of risk attitudes on search behavior : A laboratory search experiment
DC.creator	Miura, Takahiro
	Inukai, Keigo
	Sasaki, Masaru
DC.publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
DC.language' scheme='DCTERMS.RFC1766	English
DC.type' scheme='DCTERMS.DCMIType	Text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2017-06
DC.relation' scheme='DCTERMS.URI	http://www2.econ.osaka-u.ac.jp/library/global/dp/1717.pdf
DC.subject	Risk preference
	Sequential search
	MPL
DCTERMS.abstract	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.
DC.format	62184
citation_title	The effect of risk attitudes on search behavior : A laboratory search experiment
citation_author	Miura, Takahiro
	Inukai, Keigo
	Sasaki, Masaru
citation_publisher	Graduate School of Economics and Osaka School of International Public Policy (OSIPP), Osaka University
citation_language	English
citation_date	2017-06
citation_journal_title	Discussion Papers In Economics And Business
citation_volume	17-17
citation_firstpage	1
citation_lastpage	16
citation_public_url	https://hdl.handle.net/11094/62184
citation_abstract_html_url	http://www2.econ.osaka-u.ac.jp/library/global/dp/1717.pdf

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

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