Does information change behavior?

Wallace Huffman

ISU General Staff Papers 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.

Date: 2009-11-02
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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:genstf:200911020800001150

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