This study analyzes investors' perception of placebic information and its impact on stock price estimates. We initiate … show that placebic information increases the perceived amount of relevant information. Individual participants …' characteristics, such as gender, financial knowledge or overconfidence, do not affect these findings. Placebic information does not …

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 study theoretically and empirically how monetary incentives and information about others' behavior affects … decrease when stakes are very high. On average, information about others slightly increases the fraction of liars but has no … effect on the size of the lie. Distinguishing subjects by their belief on others' behavior, we find that information …