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Irrational herding persists in human-bot interactions.

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Humans often exhibit herding behavior, even when aware of interacting with automated entities (bots). This study found that awareness of bots did not significantly alter human decision-making in a strategic game.

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Area of Science:

  • Behavioral Economics
  • Human-Computer Interaction
  • Social Psychology

Background:

  • Understanding human herding behavior is crucial in strategic interactions.
  • Distinguishing between irrational herding and rational self-interest remains a challenge.
  • The increasing prevalence of automated entities (bots) in human interactions necessitates studying their influence on decision-making.

Purpose of the Study:

  • To investigate human herding behavior in a strategic setting involving interactions with bots.
  • To examine how awareness of interacting with bots affects human behavior and beliefs.
  • To differentiate between irrational herding and rational self-interest in a controlled environment.

Main Methods:

  • Conducted an online minority game with 1997 participants.
  • Divided participants into two groups: informed and unaware of playing against bots.
  • Rewarded participants for adopting the minority strategy.

Main Results:

  • Informed participants adjusted their beliefs about bot behavior but not their decisions.
  • A significant portion (30%) of participants exhibited herding behavior (following the majority) in both conditions.
  • Herding behavior persisted despite awareness of interacting with automated entities.

Conclusions:

  • Human herding behavior is robust and persists even when individuals are aware of bots.
  • Awareness of automated entities does not eliminate irrational herding in strategic decision-making.
  • Findings have implications for understanding human behavior on digital platforms with bot interactions.