Currency of Search: How Spending Time on Search is Not the Same as Spending Money

Search theories suggest that a decline in search costs increases search behavior. This relationship has been well supported by prior experimental research but not by studies conducted in retail settings. Our review of the literature suggests that this discrepancy might be driven by the fact that prior experiments typically involve money-based search whereas actual search in retail settings is usually time-based. We argue that the currency of search plays a moderating role. We find that when participants spend money on search, a decrease in search costs has a significant effect on search decisions but, when they spend time on search, a decrease in search costs either has a relatively weak effect (Experiment 1) or no effect at all (Experiment 2). Furthermore, this insensitivity in time also emerges for search payoffs (Experiment 3). We also offer evidence for the processes underlying these effects. Our results provide a new lens to examine inconsistencies in the search literature, and present a view of search that is more applicable to the retail context.     

On the Good and Bad of Natural Resource,Corruption, and Economic Growth Nexus

Environmental and Resource Economics - The empirical finding that countries endowed with vast reserves of natural resources are expected to experience slower economic growth – the resource...     

Imports,technology, and employment: Job creation or creative destruction

This study examines the employment impact of technology by using firm-level survey data for a large number of developing countries. We not only examine the impact of technology on overall employment but also investigate the effect on different types of employment, such as skilled, unskilled, temporary, and seasonal. Considering asymmetric distribution of employment, we utilize quantile regression for empirical analysis. Our findings unequivocally suggest that technology does not kill jobs. Further, we could not find any skill-biased impact of technology. Finally, results suggest that technology received through alternative sources works in combination, enhances absorptive capacity and promotes employment.