Scandinavian Working Papers in Economics

Working Papers in Economics,
University of Gothenburg, Department of Economics

No 296: Searching for a better deal - on the influence of group decision making, time pressure and gender in a search experiment

Marcela Ibanez (), Simon Czermak () and Matthias Sutter ()
Additional contact information
Marcela Ibanez: Department of Economics, School of Business, Economics and Law, Göteborg University, Postal: Box 640, SE 40530 GÖTEBORG
Simon Czermak: University of Innsbruck
Matthias Sutter: Department of Economics, School of Business, Economics and Law, Göteborg University, Postal: Box 640, SE 40530 GÖTEBORG

Abstract: We study behavior in a search experiment where sellers receive randomized bids from a computer. At any time, sellers can accept the highest standing bid or ask for another bid at positive costs. We find that sellers stop searching earlier than theoretically optimal. Inducing a mild form of time pressure strengthens this finding in the early periods. There are marked gender differences. Men search significantly shorter than women. If subjects search in groups of two subjects, there is no difference to individual search, but teams of two women search much longer than men and recall more frequently.

Keywords: Search experiment; Time; Group decision; Gender differences

JEL-codes: C91; C92; D83

22 pages, March 31, 2008

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Published as
Marcela Ibanez, Simon Czermak and Matthias Sutter, (2009), 'Searching for a better deal - on the influence of group decision making, time pressure and gender in a search experiment', Journal of Economic Psychology, vol 30, no 1, pages 1-10

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