Aiming to choose correctly or to choose wisely? The optimality-accuracy trade-off in decision under uncertainty
Thomas Garcia  1, 2@  
1 : Groupe d'analyse et de théorie économique  (GATE Lyon Saint-Étienne)  -  Website
École Normale Supérieure (ENS) - Lyon, Université Lumière - Lyon II, Université Claude Bernard - Lyon I (UCBL), CNRS : UMR5824, Université Jean Monnet - Saint-Etienne, PRES Université de Lyon
93, chemin des Mouilles 69130 Écully --- 6, rue Basse des Rives 42023 Saint-Étienne cedex 02 -  France
2 : Queensland University of Technolgy [Brisbane]  (QUT)  -  Website
Brisbanne 4001 Queensland Australia -  Australia

When making a decision under uncertainty, individuals aim to achieve optimality. In general, an accurate decision is optimal. However, in many real life situations asymmetric stakes induce a divergence between optimality and accuracy (e.g. medical decision-making). We highlight this optimality-accuracy trade-off and study its origins with two experiments of perceptual decision with asymmetric payoffs allowing for the use of Signal Detection Theory as a normative benchmark. The first experiment confirms the existence of an optimality-accuracy trade-off with a leading role of accuracy. The second experiment explains this trade-off by the concern of people for being right.

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