| Author: | Pingle, M. |
| Title: | Imitation versus rationality: an experimental perspective on decision making |
| Journal: | Journal of Socio-Economics
1995 : VOL. 24:2, p. 281-316 |
| Index terms: | DECISION MAKING RATIONALITY SOCIOLOGY |
| Language: | eng |
| Abstract: | Rather than comparing alternatives before making a choice, decision makers often simply imitate the choices made by others. Imitation may be advantageous when comparing alternatives is relatively costly. However, if everyone strictly imitates, then improvements in choice cannot occur. This article presents the results of an experiment designed to examine the use of imitation as an alternative to rationality and the extent to which imitation can complement rationality in the search for economic efficiency. |
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