Exploration in Teams and the Encouragement Effect: Theory and Experimental Evidence
研究了一个两人两阶段的序贯探索模型，发现信息外部性会产生鼓励效应，即第一个人的探索会促使第二个人也去探索，并通过实验验证了这一理论预测，对团队创新管理有启示。
This paper analyzes a two-person, two-stage model of sequential exploration where both information and payoff externalities exist and tests the derived hypotheses in the laboratory. We theoretically show that, even when agents are self-interested and perfectly rational, the information externality induces an encouragement effect: a positive effect of first player exploration on the optimality of the second player exploring as well. When agents have other-regarding preferences and imperfectly optimize, the encouragement effect is strongest. The explorative nature of the game raises the expected surplus compared with a payoff equivalent public goods game. We empirically confirm our main theoretical predictions using a novel experimental paradigm. Our findings are relevant for motivating and managing groups and teams innovating not only for private but also and especially so, for public goods. This paper was accepted by John List, behavioral economics.