We revisit the sequential search problem by Hey (J Econ Behav Organ 8:137–144, 1987 ). In a 2 $$\times $$ × 2 factorial design, varying fixed and random cost treatments with and without recall, we address open research questions that were originally stated by Hey ( 1987 ). Our results provide clear evidence for Hey’s ( 1987 ) conjecture that recall negatively affects performance in sequential search. With experience, however, search behavior with and without recall converges toward the optimal reservation rule. We further find that the utilization of optimal reservation rules is independent from the stochastic nature of the search cost.

Recall Searching with and without Recall / DI CAGNO, DANIELA TERESA; Neugebauer, T.; Rodriguez Palmero, C.; Sadrieh, K.. - In: THEORY AND DECISION. - ISSN 0040-5833. - 77:3(2014), pp. 297-311. [10.1007/s11238-014-9444-1]

Recall Searching with and without Recall

DI CAGNO, DANIELA TERESA;
2014

Abstract

We revisit the sequential search problem by Hey (J Econ Behav Organ 8:137–144, 1987 ). In a 2 $$\times $$ × 2 factorial design, varying fixed and random cost treatments with and without recall, we address open research questions that were originally stated by Hey ( 1987 ). Our results provide clear evidence for Hey’s ( 1987 ) conjecture that recall negatively affects performance in sequential search. With experience, however, search behavior with and without recall converges toward the optimal reservation rule. We further find that the utilization of optimal reservation rules is independent from the stochastic nature of the search cost.
experiments
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11385/109992
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