Players' Optimism Leads to Inefficient Decision-Making in Competitive Game
The article explores a game where players decide between learning about their own risky options or competing for a shared safe option. If a player's risky option succeeds, they stop competing for the safe one. When players have different beliefs about success, one player may not compete for the safe option. But when beliefs are similar, there is no clear strategy, leading to inefficient decision-making.