When an agent receives information from a source whose accuracy might be either high or low, standard theory dictates … uncertain sources. A theory of belief updating where agents are insensitive and averse to uncertainty in information accuracy …

to garble the information on which evaluators can base their assessments. Evaluators see through this behavior, making …

This paper studies information aggregation in financial markets with recurrent investor exit and entry. I consider a … dynamic general equilibrium model of asset trading with private information and collateral constraints. Investors differ in …' information is not fully revealed by prices, conditional return volatility and risk premia both increase. The model also implies …

control the quality of the expert's information. We prove that the optimal quality of information is always bounded away from … the full information and characterize the optimal information structure that maximizes players' ex-ante payoffs. Based on … further ex-ante Pareto improvement since it allows for the step-by-step refinement of the expert's information, preserving …

information …

a constant outside option payoff. The treatments vary the information disclosure rule on the risky payoff, such that in … the public information treatment the risky payoff is always observable, while in the private information treatment, the … risky payoff is observable only to the participants who enter the market. We find that under private information, market …

We propose and experimentally test two tractable methods to incentivize the elicitation of private information … incentivize the elicitation of private information using facts, when these are not verifiable, we incentivize the respondent to … reveal her perceptions about others and use that statement to predict the subject's private information. The stronger the …

Does social identity affect how decision makers consume and digest new information? We study this question through a … cost. Making social identity observable significantly affects information acquisition and makes receivers more prone to … truthtelling. This change in information acquisition has implications for optimal decision making: it negatively affects receivers …

We examine whether the desire for more information is people's dominant motive for reading economic and political news … experimentally vary people's beliefs about the informativeness of news. Inconsistent with the desire for more information being the … information reduce their demand for news from this newspaper. Furthermore, treated respondents who think that a news outlet is …