The relationship between product information quantity and diversity of consumer decisions v1.0.0

We generated populations of consumer agents, each with a specific cognitive capacity for processing information. An agent’s probability of picking the best option declined once product information content exceeded its cognitive capacity. If the agent had access to popularity information, it could compensate for this cognitive overload by using a social learning strategy. We used the model to determine how behavioral clustering and decision performance varied with the amount of product information and with the agents’ access to popularity information.
This is a companion discussion topic for the original entry at