Identity as Information: The Impact of Identity-Mediated Information in a Risk Choice Experiment
This paper studies how identity shapes social learning under uncertainty. In a preregistered lab experiment, subjects first make baseline lottery choices that reveal their risk preferences. They then complete repeated choice blocks after observing other subjects, referred to as referents. Referents are experimentally assigned to vary gender match, while payoff visibility is also randomized: in payoff-visible trials, subjects can evaluate the lotteries directly; in payoff-blind trials, the referent's choice becomes the main available signal.
Before choosing, subjects report how closely they think the referent's preferences align with their own. Same-gender referents are perceived as closer in preferences, and perceived closeness predicts copying especially when payoff information is hidden. The results show how identity can affect learning through perceived informational relevance, especially when information is scarce.