Understanding the value that individuals assign to the protection of their personal data is of great importance for business, law, and public policy. We use a field experiment informed by behavioral economics and decision research to investigate individual privacy valuations and find evidence of...

With the advent of the internet and the resulting explosion of easily accessible information, people’s limited capacity for attention has come to play an increasingly important role in the economy and, consequently, so have the psychological forces that determine what people pay attention to....

Disclosure is often proposed as a remedy for conflicts of interest, but it can backfire, hurting those whom it is intended to protect. Building on our prior research, we introduce a conceptual model of disclosure's effects on advisors and advice recipients that helps to explain when and why it...

Professionals are often influenced by conflicts of interest when they have a personal, often material, interest in giving biased advice. Although disclosure (informing advisees about the conflict of interest) is often proposed as a solution to problems caused by such conflicts, prior research...

Economic models typically allow for “free disposal†or “reversibility†of information, which implies non-negative value. Building on previous research on the “curse of knowledge†we explore situations where this might not be so. In three experiments, we document...

In economic analyses of asymmetric information, better-informed agents are assumed capable of reproducing the judgments of less-informed agents. The authors discuss a systematic violation of this assumption that they call the "curse of knowledge." Better-informed agents are unable to ignore...