Direct Tests of the Reservation Wage Property
首次通过实验直接检验有限期工作搜寻模型预测的保留工资，发现间接检验（如搜寻时长）效力不足，而直接检验拒绝了简单规则和风险中性模型，但支持一般凹模型。
This paper provides the first direct experimental tests of the reservation wages predicted by finite horizon job search models. Previous indirect tests were based on search duration and search income. The authors show that such indirect tests are weak by demonstrating that a naive rule performs essentially as well as the risk neutral model in predicting search duration. In contrast, direct tests of predicted reservation wages imply rejections of both the naive rule and the risk neutral model. The general concave model survives direct tests with reservation wage data, as does a specific (logistic) concave model. Copyright 1992 by Royal Economic Society.