ABSTRACT
The purpose of this research is to examine ways in which decision makers use imperfect information about options when screening them prior to choosing the best option from among the survivors of screening. We define information about an option as “imperfect” (a) when information about pertinent aspects of the option is missing, (b) when there is a general paucity of information about the option, and (c) when it is not clear what will happen were the option to end up being the one chosen. We present three experiments that address each of these definitions.
