Rivals in the dark: How competition influences search in decisions under uncertainty

摘要: In choices between uncertain options, information search can increase the chances of distinguishing good from bad options. However, many are made in presence other choosers who may seize better option while one is still engaged search. How long do (and should) people before choosing options such competition? To address this question, we introduce a new experimental paradigm called competitive sampling game. We use both simulation and empirical data to compare choice solitary environments. Simulation results show that minimal adaptive when expects competitors choose quickly or about how will Descriptively, observe competition drastically reduces prior choice.