Learning from Stories, Statistics, and Narratives

Thomas Graeber (), Christopher Roth () and Florian Zimmermann ()
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Thomas Graeber: University of Zurich
Christopher Roth: LMU Munich, CESifo & NHH
Florian Zimmermann: University of Bonn & MPI for Behavioral Economics Bonn

No 441, ECONtribute Discussion Papers Series from University of Bonn and University of Cologne, Germany

Abstract: This article reviews how different types of information shape belief formation. We organize the discussion around two distinctions: whether information supplies evidence or a frame work for interpreting evidence, and whether it is qualitative or quantitative. Stories describe individual instances in qualitative terms, whereas statistics summarize many observations numerically. Narratives and quantitative models provide qualitative and quantitative frame works, respectively, for interpreting evidence. We examine how learning from evidence and learning from models interact: models shape responses to existing and subsequent evidence, while evidence can prompt model revision. We argue that qualitative information engages associative cognitive processes, such as mental simulation and memory retrieval, which tend to give it a larger and more lasting influence on beliefs than quantitative information. We then discuss implications for strategic communication and the supply of information in media markets, and identify challenges and open questions for future research.

Keywords: Stories; statistics; narratives; beliefs; learning; qualitative information; models (search for similar items in EconPapers)
JEL-codes: D01 D83 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2026-10
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https://www.econtribute.de/RePEc/ajk/ajkdps/ECONtribute_441_2026.pdf First version, 2026 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:ajk:ajkdps:441

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