Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/202724 
Year of Publication: 
2019
Series/Report no.: 
IZA Discussion Papers No. 12378
Publisher: 
Institute of Labor Economics (IZA), Bonn
Abstract: 
Our paper conducts laboratory experiments with the sequential search model to test whether participants engage in search activities in line with theoretical predictions derived from the expected utility model or the reference-dependent model, without assuming any specific formulation rule for a reference point. Our experimental results showed that the participants' search behavior did not align with the reference-dependent model. In addition, the correlation between individual preferences and search behavior reinforced our experimental results; that is, loss aversions were not significantly correlated with search behavior.
Subjects: 
sequential search
loss aversion
risk preference
JEL: 
D81
D83
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.