Table 1 Average Beta coefficient for predicting information seeking and sharing

Exp1	Motives	M	95% CI	t	df	p
Information-sharing	Uncertainty	0.09	[0.01, 0.16]	2.36	113	0.02
Information-sharing	Instrumentality	0.21	[0.14, 0.28]	6	113	<0.001
Information-sharing	Valence	0.10	[0.05, 0.15]	4.64	113	<0.001
Information-seeking	Uncertainty	0.14	[0.07, 0.20]	4.28	108	<0.001
Information-seeking	Instrumentality	0.39	[0.31, 0.46]	10.14	108	<0.001
Information-seeking	Valence	0.11	[0.06, 0.15]	4.96	108	<0.001

Replication	Motives	M	95% CI	t	df	p
Information-sharing	Uncertainty	0.18	[0.11, 0.26]	4.79	101	<0.001
Information-sharing	Instrumentality	0.26	[0.18, 0.33]	6.76	101	<0.001
Information-sharing	Valence	0.06	[0.03, 0.09]	3.71	101	<0.001
Information-seeking	Uncertainty	0.19	[0.10, 0.27]	4.47	99	<0.001
Information-seeking	Instrumentality	0.33	[0.25, 0.41]	8.41	99	<0.001
Information-seeking	Valence	0.06	[0.02, 0.09]	3.15	99	0.002

Participants prefer to share and seek information when (i) the receiver’s uncertainty is high, (ii) the information is instrumental to the receiver, and (iii) the information would likely convey good news—that is when the expected/true value of the stocks was high. The table shows the average Beta coefficient from linear regression across individuals that predict separately (a) information-sharing and (b) information-seeking on each trial from three factors: (i) level of uncertainty, (ii) instrumentality-, and (iii) valence of information. p and t are from a t-test against zero.

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