Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future …, however, is not uniform but depends on context. When the environment allows subjects to not focus attention on (negative …

Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future …, however, is not uniform but depends on context. When the environment allows subjects to not focus attention on (negative …

and treat correlated information as independent. In consequence, people s beliefs are excessively sensitive to well …-conncected information sources, implying a pattern of overshooting beliefs. Additionally, in an experimental asset market, correlation …

and treat correlated information as independent. In consequence, people's beliefs are excessively sensitive to well …-connected information sources, implying a pattern of "overshooting" beliefs. Additionally, in an experimental asset market, correlation …

people neglect correlations in the updating process, leading to systematically "overshooting" beliefs. This finding lends …

We report on two novel choice experiments with real goods where subjects in one treatment are forced to choose, as is … the norm in economic experiments, while in the other they are not but can instead incur a small cost to defer choice … by rational choice. Our results suggest that nonforced‐choice experiments and models can be helpful in separating people …

It is widely hypothesized that anxiety and worry about an uncertain future lead to the adoption of comforting beliefs …