Structured, uncertainty-driven exploration in real-world consumer choice
Abstract
We study how people make choices among a large number of options when they have limited experience. In a large dataset of online food delivery purchases, we find evidence for sophisticated exploration strategies predicted by contemporary theories. People actively seek to reduce their uncertainty about restaurants and use similarity-based generalization to guide their selections. Our findings suggest that theories of exploratory choice have real-world validity.
Document Details
- Document Type
- Pub Defense Publication
- Publication Date
- Jun 24, 2019
- Source ID
- 10.1073/pnas.1821028116
Entities
People
- Bastien Brier
- Bradley C. Love
- Eric Schulz
- Michael T. Todd
- Rahul Bhui
- Samuel J Gershman
Organizations
- Alan Turing Institute
- Deliveroo
- Harvard University
- Office of Naval Research
- University College London