Through a randomized experiment and detailed data on communications among farmers, we identify the impact of text-messages-based commodity price information on rural farmers' revenues. The intervention affected prices received by farmers in two ways: (1) a long-lasting increase (9%) for treated...

It is commonly thought that a picture is worth a thousand words. If that is so, one might ask how much data is a piece of advice worth. In other words, if advice is important than we should be able to measure it in two ways: How much data would a rational decision maker be willing to give up in...

This paper investigates belief learning. Unlike other investigators who have been forced to use observable proxies to approximate unobserved beliefs, we have, using a belief elicitation procedure (proper scoring rule), elicited subject beliefs directly. As a result we were able to perform a more...