This paper reports the results of informational cascades experiments where two different decision-making systems, anti …

We study the choice of a principal to either delegate a decision to a group of careerist experts, or to consult them … individually and keep the decision-making power. Our model predicts a trade-off between information acquisition and information … aggregation. On the one hand, the expected benefit from being informed is larger in case the experts are consulted individually …

paper investigates how these findings translate to experts' decision making and information acquisition in the field. In a …Laboratory experiments find a robust relationship between decision times and perceived values of alternatives. This … be chosen later than earlier; (ii) decision time is higher when the likelihood of choosing each alternative is closer to …