An Information‐Theoretic Approach*

In: Decision sciences, Band 2, Heft 2, S. 161-171

Abstract

ABSTRACTThis paper examines the search aspect of decision making. An experiment was conducted to assess the amount of information utilized by subjects prior to committing themselves to a choice. By construing the information environment in the form of a maze and measuring "transmitted" information according to the Shannon‐Weaver logarithmic metric, the power of subjects' search heuristics was assessed.