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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 …
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We explore the relationship between public information and implementable outcomes in an environment characterized by … random endowments and private information. We show that if public signals carry no information about private types, then an … Bayesian incentive compatibility. The result extends the notion, dating to Hirshleifer (1971), that public information can have …
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We characterize a precise comparative static on welfare and the amount of public information in an economy under … uncertainty. Results dating to Hirshleifer (1971) have suggested that information can have negative value in such a setting, but … concept of implementable allocations, the negative relationship between more public information in the sense of Blackwell and …
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By combining a theory of herding behavior with the phenomenon of availability heuristic, this paper shows that non-informative advertisements can affect people’s choices by influencing their perception of product quality. We present a model in which people can learn about product quality by...
Persistent link: https://www.econbiz.de/10010284386
Economists usually think that rational voters have little incentives to acquire costly information. We present a … information if media technology is available because then they do not condition their informational decisions on being pivotal …-ride. Further, we show how the quality of information depends on the size of the electorate, the prior knowledge of voters and on …
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