We develop a theoretical model to study the welfare effects of libertarian paternalism on information acquisition, social learning, and financial decision-making. Individuals in our model are permitted to appreciate and use the information content in the default options set by a social planner....

Research on cognitive style has gathered momentum over the past 40 years, especially with respect to learning, problem-solving, and decision-making. This investigation adapts Tetlock's hedgehog-fox scale for German-speaking respondents through three large-scale studies (n = 17,072) and examines...