Does Information Change Behavior?

Wallace Huffman

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: This paper reviews and synthesizes the theory of information economics and empirical evidence on how information changes the behavior of consumers, households and firms. I show that consumers respond to new information in food experiments but perhaps not in retirement account management. Some seeming perverse consumer/investor decision making may be a result of a complex decision with a low expected payoff.

Keywords: moral hazard; information economics; consumer behavior; behavioral economics; adverse selection (search for similar items in EconPapers)
Date: 2009-11-02
New Economics Papers: this item is included in nep-agr, nep-cbe, nep-cta, nep-mic and nep-mkt
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http://www2.econ.iastate.edu/papers/p3900-2009-11-02.pdf (application/pdf)

Related works:
Working Paper: Does Information Change Behavior? (2009)
Working Paper: Does information change behavior? (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:13128

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