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 …

We report the results of an experiment on selective exposure to information. A decision maker interested in learning … about an uncertain state of the world can acquire information from one of two sources which have opposite biases: when … is better off seeking confirmatory information unless the source biased against the prior is sufficiently more reliable …

, yielding the lowest overall error rate out of the heuristics considered, subjects generally underutilize the information on …Collective knowledge is significantly affected by information about others’ viewpoints. However, under what conditions … does the “wisdom of crowds” help versus harm knowledge of factual information? In this experiment, we present subjects with …

, yielding the lowest overall error rate out of the heuristics considered, subjects generally underutilize the information on …Collective knowledge is significantly affected by information about others’ viewpoints. However, under what conditions … does the “wisdom of crowds” help versus harm knowledge of factual information? In this experiment, we present subjects with …

optimal conditional on utility functions departing from risk neutrality, or heuristics derived from limited cognitive … standard search task as well as a lottery task designed to elicit utility functions. We find that search heuristics are not …

", which ensures that the old information is used correctly after an unforeseen event materializes. We find that participants …

", which ensures that the old information is used correctly after an unforeseen event materializes. We find that participants …

Acquiring information about destinations can be costly for migrants. We model information frictions in the rational … predicts that ows from countries with a higher cost of information or stronger priors are less responsive to variations in … economic conditions at destination, as migrants rationally get less information before deciding where to move. The econometric …