When investors can see each other's results, copying the top performers finds the best allocation faster and also multiplies bankruptcies, because luck is copied along with the choices.

Evidence 4 passages

• groundsSource document

  However, in the second treatment, when they mimicked each other's investments, the group zeroed in on the optimal allocation by the end of the game.

• groundsSource document

  Since you can't copy the luck, along with the allocation choices, an inflated number of bankruptcies resulted as a side effect.

• groundsSource document

  In fact, the more challenging the problem, or the greater the uncertainty, the more inclined people are to rely on cultural learning, as predicted by evolutionary models.

• groundsSource document

  In fact, sometimes the more important getting the right answer is, the more we rely on cultural learning.

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