We investigate how people make choices when they are unsure about the value of the options they face, and can invest in the acquisition of more information. We design a laboratory experiment to study whether human behaviour is able to approximate the optimal solution to this sequential sampling...

When making a decision under uncertainty, individuals aim to achieve optimality. In general, an accurate decision is optimal. However, in real life situations asymmetric stakes induce an unusual divergence between optimality and accuracy. We highlight this optimality-accuracy trade-off and study...