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Updated: Jul 5, 2025

The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
Published on: August 25, 2023
Fast decisions reflect biases, slow decisions do not
Samantha Linn1, Sean D Lawley1, Bhargav R Karamched2,3,4
1Department of Mathematics, University of Utah, Salt Lake City, Utah, USA.
Abstract:
Decisions are often made by heterogeneous groups of individuals, each with distinct initial biases and access to information of different quality. We show that in large groups of independent agents who accumulate evidence the first to decide are those with the strongest initial biases. Their decisions align with their initial bias, regardless of the underlying truth. In contrast, agents who decide last make decisions as if they were initially unbiased, and hence make better choices. We obtain asymptotic expressions in the large population limit that quantify how agents' initial inclinations shape early decisions. Our analysis shows how bias, information quality, and decision order interact in non-trivial ways to determine the reliability of decisions in a group.
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