* in edit mode is what you want -
http://vimdoc.sourceforge.net/htmldoc/pattern.html#star - though it's not quite the same, as it will search left and right for the word boundary.
(emacs is actually a bit unwieldy by comparison - * was one of the things I missed when I left vim. I was also used to using this same functionality in Visual Studio and Scite (it's Ctrl+F3), so it was well embedded into my workflow.)