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Learning about known options from others increases exploration of unknown options. This social-exploration effect stems from adopting a group perspective, encouraging diversified experiences.

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Area of Science:

  • Decision-making
  • Social psychology
  • Behavioral economics

Background:

  • Individuals often choose between familiar and novel options.
  • Understanding factors influencing exploration of the unknown is crucial.

Purpose of the Study:

  • To investigate the social-exploration effect: whether learning about known options from others influences the exploration of unknown options.
  • To explore the underlying psychological mechanisms, specifically the adoption of a group-level perspective.

Main Methods:

  • Four studies (N=2,333) employed an incentive-compatible paradigm.
  • Participants chose between known and unknown options (e.g., cash bonuses).
  • Information sources for known options varied: other people, unidentified source, or computer.

Main Results:

  • Exploration rates were higher when information about known options came from people versus other sources.
  • The social-exploration effect was attenuated when exploring losses.
  • The effect required others' actual experience, not just knowledge of outcomes.

Conclusions:

  • Social learning significantly enhances the exploration of unknown choices.
  • The 'we'-perspective explains increased group-level exploration.
  • Findings have implications for encouraging exploration in various contexts.