Navigating Decision Landscapes: The Impact of Principals on
Decision-Making Dynamics
- URL: http://arxiv.org/abs/2312.16230v1
- Date: Mon, 25 Dec 2023 00:24:29 GMT
- Title: Navigating Decision Landscapes: The Impact of Principals on
Decision-Making Dynamics
- Authors: Lu Li and Huangxing Li
- Abstract summary: Our study introduced principals or external guides, adding to the decision-making process.
The reliability of these principals significantly influenced decisions.
Our findings emphasize the need for caution when placing trust in decision-making contexts.
- Score: 6.780877976424507
- License: http://creativecommons.org/licenses/by/4.0/
- Abstract: We explored decision-making dynamics in social systems, referencing the 'herd
behavior' from prior studies where individuals follow preceding choices without
understanding the underlying reasons. While previous research highlighted a
preference for the optimal choice without external influences, our study
introduced principals or external guides, adding complexity to the
decision-making process. The reliability of these principals significantly
influenced decisions. Notably, even occasional trust in an unreliable principal
could alter decision outcomes. Furthermore, when a principal's advice was
purely random, heightened trust led to more decision errors. Our findings
emphasize the need for caution when placing trust in decision-making contexts.
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