In their study, the authors conducted a computer based experiment with undergraduate students in France. In this experiment, the students were told they were retailers trying to sell wodgets over 30 rounds. In each round, the students could purchase wodgets for 3 francs and sell them for 12 francs. If customer demand (reported by the experimenters to the students) exceeded the number of wodgets a student ordered, then the student received profits on all of the sales but ran out of inventory. In contrast, if customer demand class discussion highlight was less than the number of wodgets ordered, then the students lost the money associated with the remaining inventory (think of unsold wodgets as spoiled inventory). The students were told that the goal of the experiment was to maximize profits.

To examine the effects of timely information on decision making, the authors of the study placed students into one of three categories: subjects received information about consumer demand and were allowed to purchase widgets every round, every three rounds, or every six rounds. In other words, the first group received information very quickly (every round), and the last group received information very slowly (every six rounds).

Based on these differences in information flow, which students do you think made the best decisions? Why or why not?