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Do people make poor choices with more information?

April 18, 2010 by

People with complete information go for the instant reward, when given a choice between a quick payoff versus a longer-term benefit, U.S. researchers say.The research from University of Texas at Austin psychologists has been published online in the journal Judgment and Decision Making ."You'd think that with more information about your options, a person would make a better decision. Our study suggests the opposite," says Associate Professor Bradley Love, who conducted the research with graduate student Ross Otto. "To fully appreciate a long-term option, you have to choose it repeatedly and begin to feel the benefits."As part of the study, 78 subjects were repeatedly given two options through a computer program that allowed them to accumulate points. For each choice, one option offered the ...

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