Why do people place lower weight on advice far from their own initial opinion?

Francesco Ravazzolo and Øistein Røisland

Economics Letters, 2011, vol. 112, issue 1, 63-66

Abstract: Experimental studies find that the weight put on advice is negatively related to the distance between the advice and the decision-maker's initial opinion. We show that this can be rational if the decision-maker has imperfect knowledge about the advisor's competence.

Keywords: Distance; effect; Policy; decision-making; Signal-extraction; Uncertainty (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:112:y:2011:i:1:p:63-66

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