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Problem statement: This study adopts an interdisciplinary approach in conducting the&#13; study on curiosity with a toolset of experimental economics. Approach: I hypothesized that the&#13; Decision Makers (DMs) tended to exhibit curiosity behavior when two conditions were met: (1) The&#13; DMs faced small feedback-based decision problems; (2) The DMs bore tangible costs of their&#13; curiosity behavior. Results: This study was the first to address the phenomenon of curiosity, using an&#13; economics experiment, where the DMs received financial performance-based incentives (i.e., monetary&#13; payoffs that were contingent on their performance in the experiment). Economics studies the cost and&#13; benefit of any action made by the DMs, whereas psychologists do not. A key feature of the current&#13; experiment was that the DMs faced 100-fold binary choice between two alternatives, both of which&#13; yielded fixed payoffs. Conclusion/Recommendations: Experimental results were interpreted as a&#13; confirmation of the hypothesis that curiosity was aroused when the aforementioned two conditions&#13; were met

A Laboratory Study of Curiosity Behavior in Feedback-Baased Decisions