Hoelzemann, Johannes; Manso, Gustavo; Nagaraj, Abhishek; … - National Bureau of Economic Research - 2024
We examine innovative contexts like scientific research or technical R&D where agents must search across many potential … exploration and lower individual and group payoffs. We test our predictions in an online lab experiment and show that the … research illustrates our framework in a real-world setting: data on moderately promising genetic targets delays valuable …