Economics Webinar - Boundedly Rational Information Demand
12:00pm - 1:30pm
Online via Zoom
Acquiring information about available options before making a decision is useful because it allows decision makers to switch to a superior alternative if the default option is deemed inferior. Therefore, information demand should depend on the distribution of the options’ values. In an experiment, I show that information demand increases as the default worsens, while, on average, it remains insensitive to the prior value of the alternative. These patterns reflect
bounded rationality in information valuation, which stems from the difficulty of foreseeing future choices and integrating their payoffs.
活動形式
講者/ 表演者:
Prof. Yucheng Liang
Carnegie Mellon University
語言
英文
適合對象
校友
教職員
研究生
主辦單位
經濟學系
聯絡方法
Julie Wong via email: ecseminar@ust.hk