Standard models of choice assume that the weight given to information from different sources depends exclusively on its diagnosticity. In this paper we study whether directly experienced information influences behavior more strongly than vicariously obtained information. We conducted two experiments that, unlike prior studies, maintain content, format and relevance of the information constant, while varying only its source. The experiments consisted of repeated games in which groups of players were randomly reassigned into groups every round and were informed of the behavior of all players. As predicted, subjects’ behavior was more strongly influenced by the actions of players they directly interacted with than by those they only observed.
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