Structural econometric methods that assume agents have rational expectations are often criticized. Yet, little is known about the relative costs and benefits of adopting alternative empirical strategies. This paper compares three procedures for inference about a single structural parameter using data from a laboratory price search experiment. Our novel experimental design induces preferences up to the subjective rate of time preference, leaving unrestricted only this parameter and the decision rule that subjects use in solving the search task. We analyze the experimental data under the assumptions of both rational expectations and heuristic behavior, and we also draw inferences using a simple revealed preference analysis that does not requi...
In this paper we investigate experimentally if people search optimally and how price promotions infl...
This paper reviews a series of paradoxes that exist in the experimental economics literature. These ...
Economists recognize that preferences can differ across individuals. We examine the strengths and we...
Structural econometric methods that assume agents have rational expectations are often criticized. Y...
Experimental studies of search behavior suggest that individuals stop searching earlier than predict...
Existing evidence suggests that simple heuristics describe search behavior better than the optimal r...
We run experiments with real monetary rewards ranging from $10 to $500 to estimate rates of time pre...
The existing evidence from laboratory experiments suggests that relatively simple heuristics describ...
This thesis investigates consumer search behavior in different contexts and its implications on cert...
There is abundant literature in experimental research on decision making under risk, which compares,...
We use a laboratory experiment to investigate the effect that assuming rational expectations has on ...
We compare three methods for the elicitation of time preferences in an experimental setting: the Bec...
This paper reports experimental tests of three search equilibrium models. These models which differ ...
In this paper we investigate experimentally if people search optimally and how price promotions infl...
This paper reviews a series of paradoxes that exist in the experimental economics literature. These ...
Economists recognize that preferences can differ across individuals. We examine the strengths and we...
Structural econometric methods that assume agents have rational expectations are often criticized. Y...
Experimental studies of search behavior suggest that individuals stop searching earlier than predict...
Existing evidence suggests that simple heuristics describe search behavior better than the optimal r...
We run experiments with real monetary rewards ranging from $10 to $500 to estimate rates of time pre...
The existing evidence from laboratory experiments suggests that relatively simple heuristics describ...
This thesis investigates consumer search behavior in different contexts and its implications on cert...
There is abundant literature in experimental research on decision making under risk, which compares,...
We use a laboratory experiment to investigate the effect that assuming rational expectations has on ...
We compare three methods for the elicitation of time preferences in an experimental setting: the Bec...
This paper reports experimental tests of three search equilibrium models. These models which differ ...
In this paper we investigate experimentally if people search optimally and how price promotions infl...
This paper reviews a series of paradoxes that exist in the experimental economics literature. These ...
Economists recognize that preferences can differ across individuals. We examine the strengths and we...