Learning from Stories, Statistics, and Narratives

Thomas Graeber, Christopher Roth and Florian Zimmermann

No 22079, CEPR Discussion Papers from Centre for Economic Policy Research

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 framework 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 frameworks, 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; Narratives; Statistics (search for similar items in EconPapers)
JEL-codes: D83 (search for similar items in EconPapers)
Date: 2026-10
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