We compare preferences for temporal resolution when uncertainty is resolved over a probability rather than a value. In … whether values or probabilities define the main object of uncertainty. In our experiment, however, most subjects resolved … motivates an explanation for it that we call "process utility", which highlights the importance of information processing when …

of the probability of a horse winning - longshots are overbet, while favorites are underbet. Neoclassical explanations of … misperceptions of probability drive the favorite-longshot bias, as suggested by Prospect Theory. …

experts predict a large effect and when statistical uncertainty is communicated with p-values rather than standard errors. Our …

Using a probability-based sample of the Norwegian population, we test whether an informational treatment about fewer … program designed to save jobs and prevent bankruptcies. The information treatment significantly reduces support for the …

-landfall federal protective expenditures exponentially increase with the forecast wind speed and with the degree of uncertainty about … contribution is to develop a new theoretically-grounded approach for estimating the marginal value of information and we apply it … to establish the social value of improving hurricane forecasts. On the margin, the value of hurricane information is …

misperceive the performance of their state's education system. Experimentally providing performance information polarizes citizens …' political satisfaction between high- and low-performing states and increases their demand for greater transparency of states …' educational performance. Parliamentarians' support for the transparency policy is opportunistic: Performance information increases …

automation risk of their occupation, especially those in high-automatability occupations. Randomized information about their … in their work environment. The information also increases willingness to participate in further training, especially …