{"id":"https://openalex.org/W2994548416","doi":null,"title":"When to Stop? A Theoretical and Experimental Investigation of an Individual Search Task","display_name":"When to Stop? A Theoretical and Experimental Investigation of an Individual Search Task","publication_year":2020,"publication_date":"2020-12-02","ids":{"openalex":"https://openalex.org/W2994548416","mag":"2994548416"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:gre:wpaper:2019-40","doi":null,"is_oa":false,"landing_page_url":"http://195.220.190.85/GREDEG-WP-2019-40.pdf","pdf_url":"http://195.220.190.85/GREDEG-WP-2019-40.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://hal.archives-ouvertes.fr/hal-03036311","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5055944127","display_name":"Imen Bouhlel","orcid":"https://orcid.org/0000-0003-4565-7172","observed_orcids":["https://orcid.org/0000-0003-4565-7172"]},"institutions":[{"id":"https://openalex.org/I4210096615","display_name":"Groupe de Recherche en Droit, \u00c9conomie, Gestion","ror":"https://ror.org/00rfccx09","country_code":"FR","type":"facility","lineage":["https://openalex.org/I1294671590","https://openalex.org/I201841394","https://openalex.org/I4210088668","https://openalex.org/I4210096615","https://openalex.org/I4210150854"]}],"countries":["FR"],"is_corresponding":false,"raw_author_name":"Bouhlel, Imen","raw_affiliation_strings":["Groupe de Recherche en Droit, Economie et Gestion"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Groupe de Recherche en Droit, Economie et Gestion","institution_ids":["https://openalex.org/I4210096615"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5000820368","display_name":"Michela Chessa","orcid":"https://orcid.org/0000-0003-4218-9369","observed_orcids":["https://orcid.org/0000-0003-4218-9369"]},"institutions":[{"id":"https://openalex.org/I4210096615","display_name":"Groupe de Recherche en Droit, \u00c9conomie, Gestion","ror":"https://ror.org/00rfccx09","country_code":"FR","type":"facility","lineage":["https://openalex.org/I1294671590","https://openalex.org/I201841394","https://openalex.org/I4210088668","https://openalex.org/I4210096615","https://openalex.org/I4210150854"]}],"countries":["FR"],"is_corresponding":false,"raw_author_name":"Chessa, Michela","raw_affiliation_strings":["Groupe de Recherche en Droit, Economie et Gestion"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Groupe de Recherche en Droit, Economie et Gestion","institution_ids":["https://openalex.org/I4210096615"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5012266614","display_name":"Agn\u00e8s Festr\u00e9","orcid":"https://orcid.org/0000-0003-3318-7679","observed_orcids":["https://orcid.org/0000-0003-3318-7679"]},"institutions":[{"id":"https://openalex.org/I4210096615","display_name":"Groupe de Recherche en Droit, \u00c9conomie, Gestion","ror":"https://ror.org/00rfccx09","country_code":"FR","type":"facility","lineage":["https://openalex.org/I1294671590","https://openalex.org/I201841394","https://openalex.org/I4210088668","https://openalex.org/I4210096615","https://openalex.org/I4210150854"]}],"countries":["FR"],"is_corresponding":false,"raw_author_name":"Festr\u00e9, Agn\u00e8s","raw_affiliation_strings":["Groupe de Recherche en Droit, Economie et Gestion"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Groupe de Recherche en Droit, Economie et Gestion","institution_ids":["https://openalex.org/I4210096615"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5006074944","display_name":"\u00c9ric Guerci","orcid":"https://orcid.org/0000-0003-4862-4405","observed_orcids":["https://orcid.org/0000-0003-4862-4405"]},"institutions":[{"id":"https://openalex.org/I4210096615","display_name":"Groupe de Recherche en Droit, \u00c9conomie, Gestion","ror":"https://ror.org/00rfccx09","country_code":"FR","type":"facility","lineage":["https://openalex.org/I1294671590","https://openalex.org/I201841394","https://openalex.org/I4210088668","https://openalex.org/I4210096615","https://openalex.org/I4210150854"]}],"countries":["FR"],"is_corresponding":false,"raw_author_name":"Guerci, Eric","raw_affiliation_strings":["Groupe de Recherche en Droit, Economie et Gestion"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Groupe de Recherche en Droit, Economie et Gestion","institution_ids":["https://openalex.org/I4210096615"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I4210096615"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":1,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9872999787330627,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9872999787330627,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10646","display_name":"Experimental Behavioral Economics Studies","score":0.003700000001117587,"subfield":{"id":"https://openalex.org/subfields/3311","display_name":"Safety Research"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12101","display_name":"Advanced Bandit Algorithms Research","score":0.0031999999191612005,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/optimal-stopping","display_name":"optimal stopping","score":0.8360000252723694},{"id":"https://openalex.org/keywords/linear-search","display_name":"sequential search","score":0.906000018119812},{"id":"https://openalex.org/keywords/exploration-exploitation-trade-off","display_name":"exploration-exploitation balance","score":0.9300000071525574},{"id":"https://openalex.org/keywords/secretary-problem","display_name":"secretary problem","score":0.7070000171661377},{"id":"https://openalex.org/keywords/multi-armed-bandits","display_name":"multi-armed bandits","score":0.9459999799728394},{"id":"https://openalex.org/keywords/satisficing-behavior","display_name":"satisficing behavior","score":0.7540000081062317},{"id":"https://openalex.org/keywords/information-search","display_name":"information search","score":0.5960000157356262},{"id":"https://openalex.org/keywords/experience-goods","display_name":"experience goods","score":0.718999981880188},{"id":"https://openalex.org/keywords/information-uncertainty","display_name":"information uncertainty","score":0.5550000071525574},{"id":"https://openalex.org/keywords/regret","display_name":"regret","score":0.5540000200271606},{"id":"https://openalex.org/keywords/anticipation","display_name":"anticipation","score":0.878000020980835},{"id":"https://openalex.org/keywords/gender-differences","display_name":"gender differences","score":0.8610000014305115},{"id":"https://openalex.org/keywords/learning","display_name":"learning","score":0.3310000002384186},{"id":"https://openalex.org/keywords/purchase-decision","display_name":"purchase decision","score":0.6660000085830688}],"concepts":[{"id":"https://openalex.org/C2780451532","wikidata":"https://www.wikidata.org/wiki/Q759676","display_name":"Task (project management)","level":2,"score":0.6312049627304077},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.4384181797504425},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3883883059024811},{"id":"https://openalex.org/C180747234","wikidata":"https://www.wikidata.org/wiki/Q23373","display_name":"Cognitive psychology","level":1,"score":0.37610718607902527},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.24393200874328613},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"pmh:oai:RePEc:gre:wpaper:2019-40","doi":null,"is_oa":false,"landing_page_url":"http://195.220.190.85/GREDEG-WP-2019-40.pdf","pdf_url":"http://195.220.190.85/GREDEG-WP-2019-40.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:HAL:hal-03036311v1","doi":null,"is_oa":true,"landing_page_url":"https://hal.archives-ouvertes.fr/hal-03036311","pdf_url":null,"source":null,"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"https://hal.archives-ouvertes.fr/hal-03036311","raw_type":"info:eu-repo/semantics/preprint"},{"id":"pmh:oai:HAL:halshs-03036851v1","doi":null,"is_oa":true,"landing_page_url":"https://shs.hal.science/halshs-03036851","pdf_url":null,"source":{"id":"https://openalex.org/S4306402512","display_name":"HAL","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4405252976","host_organization_name":"Centre pour la Communication Scientifique Directe","host_organization_lineage":["https://openalex.org/I4405252976"],"host_organization_lineage_names":[],"type":"repository"},"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"2020","raw_type":"info:eu-repo/semantics/preprint"},{"id":"pmh:oai:RePEc:hal:wpaper:halshs-03036851","doi":null,"is_oa":false,"landing_page_url":"https://shs.hal.science/halshs-03036851/document","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"}],"best_oa_location":{"id":"pmh:oai:HAL:hal-03036311v1","doi":null,"is_oa":true,"landing_page_url":"https://hal.archives-ouvertes.fr/hal-03036311","pdf_url":null,"source":null,"license":"other-oa","license_id":"https://openalex.org/licenses/other-oa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"https://hal.archives-ouvertes.fr/hal-03036311","raw_type":"info:eu-repo/semantics/preprint"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Gender equality","id":"https://metadata.un.org/sdg/5","score":0.41999998688697815},{"display_name":"Peace, justice, and strong institutions","id":"https://metadata.un.org/sdg/16","score":0.4000000059604645}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W4297832351","https://openalex.org/W2911816953","https://openalex.org/W2908262716","https://openalex.org/W2058020105","https://openalex.org/W3123409826","https://openalex.org/W7096826380","https://openalex.org/W7095087743","https://openalex.org/W1982261337","https://openalex.org/W7095104311","https://openalex.org/W7000471200"],"abstract_inverted_index":{"Information":[0],"search":[1,38,113],"and":[2,134,169,193,267,288,298,338],"opinion":[3],"formation":[4],"are":[5],"central":[6],"aspects":[7],"of":[8,65,71,109,119,158,163,190,222,244,263,265],"decision":[9],"making":[10],"in":[11,92],"consumers":[12],"choices.":[13],"Indeed,":[14],"before":[15],"taking":[16],"a":[17,62,103,116,143,156,183,194,254,290,299],"decision,":[18],"the":[19,23,37,44,69,76,82,107,127,135,152,170,175,188,212,220,223,229,241,246,261,271,278,285,311,321,333],"alternatives":[20],"among":[21,115,155],"which":[22],"rational":[24],"choice":[25,154],"will":[26],"be":[27,30,49,97,251],"made":[28],"should":[29],"clearly":[31],"valued.":[32],"In":[33],"standard":[34],"economic":[35],"theory,":[36],"dynamics":[39],"is":[40,46,81,123,148,167,275,296,305,329,351],"generally":[41],"neglected":[42],"because":[43],"process":[45],"assumed":[47],"to":[48,74,150,237,253,292,301,318,341,357],"carried":[50],"out":[51],"without":[52,56],"any":[53],"cost":[54],"or":[55],"spending":[57],"time.":[58],"However,":[59],"whenever":[60],"only":[61,217],"significant":[63],"collection":[64],"experience":[66,85],"can":[67,250],"provide":[68],"bulk":[70],"relevant":[72],"information":[73,95,280,313,335,346],"make":[75],"best":[77,153],"choice,":[78],"as":[79],"it":[80],"case":[83],"for":[84,106,165,186,197],"goods":[86],"(Nelson,":[87],"1970),":[88],"some":[89],"engendered":[90],"costs":[91],"collecting":[93],"such":[94],"might":[96],"considered.":[98],"Our":[99],"paper":[100],"lies":[101],"on":[102,219,228],"conceptual":[104],"framework":[105,122],"analysis":[108],"an":[110,146,180,206],"individual":[111,147,171],"sequential":[112],"task":[114,204],"finite":[117,168,242],"set":[118,157],"alternatives.":[120,159],"This":[121],"inspired":[124],"by":[125,179],"both":[126,345],"Secretary":[128],"problem":[129,138],"(Ferguson":[130],"et":[131],"al.,":[132],"1989)":[133],"multi-armed":[136],"bandit":[137],"(Robbins,":[139],"1952).":[140],"We":[141,259,282],"present":[142,331],"model":[144],"where":[145,211],"willing":[149],"locate":[151],"The":[160,203],"total":[161],"amount":[162],"time":[164,231,274],"searching":[166],"aims":[172],"at":[173],"maximizing":[174],"expected":[176],"payoff":[177,214],"given":[178],"exploration-exploitation":[181],"trade-off:":[182],"first":[184],"phase":[185,196],"exploring":[187],"value":[189,221],"new":[191],"alternatives,":[192],"second":[195],"exploiting":[198],"her":[199],"past":[200],"collected":[201],"experience.":[202],"involves":[205],"iterative":[207],"exploitation":[208],"\u2013":[209],"i.e.,":[210],"final":[213],"does":[215],"not":[216,234],"depend":[218],"chosen":[224],"alternative,":[225],"but":[226,325],"also":[227,308,352],"remaining":[230],"that":[232,270,315],"has":[233],"been":[235],"dedicated":[236],"exploration":[238,295,304,343],"\u2013.":[239],"Given":[240],"horizon":[243],"time,":[245,324],"optimal":[247,272,322],"stopping":[248,273,323],"strategy":[249],"assimilated":[252],"satisficing":[255],"behavior":[256],"(Simon,":[257],"1956).":[258],"manipulate":[260],"degree":[262],"certainty":[264],"information,":[266],"we":[268],"find":[269,289,309],"later":[276],"under":[277,310,332,344],"uncertain":[279,334],"condition.":[281,336],"experimentally":[283],"test":[284],"model\u2019s":[286],"predictions":[287],"tendency":[291,300],"oversearch":[293],"when":[294,303],"costly,":[297],"undersearch":[302],"relatively":[306],"cheap.We":[307],"certain":[312],"condition":[314],"participants":[316],"learn":[317],"converge":[319],"towards":[320],"this":[326],"learning":[327],"effect":[328,350],"less":[330],"Regret":[337],"anticipation":[339],"lead":[340],"more":[342,359],"conditions.":[347],"A":[348],"gender":[349],"exhibited":[353],"with":[354],"women":[355],"tending":[356],"explore":[358],"than":[360],"men.":[361]},"counts_by_year":[{"year":2025,"cited_by_count":1}],"updated_date":"2026-10-28T10:33:24.094632","created_date":"2019-12-13T00:00:00"}