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Cognitive Strategies Under the Trade-off Between Option-Seeking and Evaluation

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Decision-Making and Behavioral Economics Neural and Behavioral Psychology Studies Experimental Behavioral Economics Studies

Abstract

This study uses an online behavioral experiment to investigate how people adaptively adjust the number of options they consider when facing a trade-off between option-seeking (which reduces opportunity costs) and option evaluation (which enhances the likelihood of identifying the best alternative within the considered set).

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