https://www.mdu.se/

mdu.sePublications
Change search
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf
The devil is in the details: Incorrect intuitions in optimal search
Mälardalen University, School of Education, Culture and Communication. (CEK)ORCID iD: 0000-0002-7164-0924
Stockholm University. (CEK)
2010 (English)In: Journal of Economic Behavior and Organization, ISSN 0167-2681, E-ISSN 1879-1751, Vol. 75, p. 338-347Article in journal (Refereed) Published
Abstract [en]

n the classic Secretary Problem it has been established that people tend to search somewhat less than is optimal, and a number of explanations have been suggested. Here we propose a new explanation, the Similar-But-Incorrect Intuitions Hypothesis, which says that suboptimal search behavior is to be expected because optimal strategies vary disproportionately with subtle details of the search problem setup, whereas people seem to entertain general intuitions about optimal search. We find support for this hypothesis in experiments on a new search problem, the Explore-and-Collect Problem, where the player collects utility from an option every time it is tried and options can be recalled. Although the optimal search effort in this problem is much smaller than for the Secretary Problem, people tend to search only marginally less. This is not predicted by previous explanations for suboptimal search.

Place, publisher, year, edition, pages
2010. Vol. 75, p. 338-347
National Category
Economics
Research subject
Mathematics/Applied Mathematics
Identifiers
URN: urn:nbn:se:mdh:diva-10379DOI: 10.1016/j.jebo.2010.04.006ISI: 000280330500017Scopus ID: 2-s2.0-77954219171OAI: oai:DiVA.org:mdh-10379DiVA, id: diva2:355311
Note
MEROAvailable from: 2010-10-06 Created: 2010-10-06 Last updated: 2017-12-12Bibliographically approved

Open Access in DiVA

No full text in DiVA

Other links

Publisher's full textScopus

Authority records

Eriksson, Kimmo

Search in DiVA

By author/editor
Eriksson, Kimmo
By organisation
School of Education, Culture and Communication
In the same journal
Journal of Economic Behavior and Organization
Economics

Search outside of DiVA

GoogleGoogle Scholar

doi
urn-nbn

Altmetric score

doi
urn-nbn
Total: 126 hits
CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf