Learning while shopping: an experimental investigation into the effect of learning on consumer search
Learning while shopping: an experimental investigation into the effect of learning on consumer search
复制标题
购物时学习:学习对消费者搜索影响的实验研究
DOI:
10.1007/s10683-020-09659-7
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发表时间:
2020
影响因子:
2.3
通讯作者:
Ben Casner
中科院分区:
文献类型:
--
作者:
Ben Casner
In many search environments, searchers are learning about the distribution of offers in the market. I conduct an experiment exploring a broad class of search problems with learning about the distribution of payoffs. My results support the prediction that learning results in declining reservation values, providing evidence that learning may be an explanation for recall. Theory predicts a “one step” reservation value strategy, but many subjects instead choose to set a high reservation value in order to learn about the distribution before adjusting based on their observations. Under-searching in search experiments may stem from a reinforcement heuristic and lack of negative feedback after using sub-optimal strategies.