To identify the best possible outcome, decision makers require information. In this video, SI CHEN explores information acquisition strategy and seeks to pinpoint when and why decision makers conclude that they have done sufficient research. In a laboratory experiment, decision makers are paired with receivers who, though affected by the decision, can only passively observe it. * Decision makers have access to information which helps them to decide the optimal outcome both for themselves and the receivers. Combining the experimental outcomes with a theoretical model, Chen observes that decision makers tend not to use all available information and, indeed, to cease information acquisition as soon as they come across a desirable outcome. * Also highlighting the vital importance of self interest, the work shows that further research on information acquisition strategy will play a key role in our understanding of decision making. * This LT Publication is divided into the following chapters: 0:00 Question 1:52 Method 4:22 Findings 6:16 Relevance 7:30 Outlook |