Article ID Journal Published Year Pages File Type
5072865 Games and Economic Behavior 2009 42 Pages PDF
Abstract

In this paper, we present the results of two experiments on social sampling, where people make a risky decision after they have sampled the behavior of others who have done exactly the same problem before them. In an individual decision making problem as well as in the takeover game, the simple behavioral rule of imitating the best appears to be a robust description of behavior despite the fact that it is not optimal in any of the experimental tasks. Social sampling makes people look more risk seeking than the people who do not have the opportunity to sample.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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