No open-access location is known for this record yet.
No open-access location is known for this record yet.
We study the dynamics of biased search on rugged landscapes. Contrary to the prevalent belief, we show that the bias, broadly defined as unjustified preference, can result in superior outcomes. In terms of the temporal effects, when complexity is low, biased search leads to short-term costs but long-term benefits, whereas when complexity is high, the opposite is true. This happens because such biases act as a psychological mechanism that can reduce excess experimentation and provide organizations with stability. We further show that in moderately turbulent environments the strategy of re-biasing, or changing the bias to its opposite, if timely implemented, can dominate both biased and unbiased search. Therefore, we provide evidence that bias can be an instrument of behavioral strategy rather than an undesirable flaw of human decision making.
Loading…
Imported from OpenAlex (CC0) — nothing here is generated.