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Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 10172
Verlag: 
Institute for the Study of Labor (IZA), Bonn
Zusammenfassung: 
Beliefs are a central determinant of behavior. Recent models assume that beliefs about or the anticipation of future consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and structure of information. Using a novel and purposefully simple set-up, we experimentally analyze preferences for information along four dimensions. We find evidence that the majority of subjects prefers receiving information sooner. This preference, however, is not uniform but depends on context. When the environment allows subjects to not focus attention on (negative) consumption events, later information becomes more attractive. We also identify an aversion towards piecemeal information. Variations in prior distributions do not seem to affect information preferences.
Schlagwörter: 
beliefs
anticipatory utility
news utility
information preferences
attention
reference-dependent preferences
experiments
JEL: 
C91
D03
D12
D83
Dokumentart: 
Working Paper

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