LaRiviere, Jacob; Czajkowski, Mikolaj; Hanley, Nick; … - Environmental Economics Research Group, Department of … - 2015
We use a novel field experiment which jointly tests two implicit assumptions of updating models in a joint framework …: that new information leads to new knowledge and that new knowledge can affect economic decisions. In the experiment, we … consistent with a model of incomplete learning, fatigue and either confirmation bias or costly search coupled with unbiased …