Using Advice Without Considering Its Quality: A Laboratory Experiment of Demand for Advice

Jacopo Bregolin, Astrid Hopfensitz and Elena Panova

No 26-1696, TSE Working Papers from Toulouse School of Economics (TSE)

Abstract: We experimentally test how the content of advice, namely, its alignment with common priors, influences beliefs about its quality and future demand for it. We reject the theoretical hypothesis that demand for advice can be increased by giving advice in alignment with common priors. We find, furthermore, that such alignment has hardly any impact on the participants’ beliefs about quality of advice. Nevertheless, advice influences participants’ guesses in an incentivized task, regardless of their beliefs about the quality of advice itself.

Keywords: demand for information; belief updating (search for similar items in EconPapers)
JEL-codes: C91 D83 D90 (search for similar items in EconPapers)
Date: 2026-01
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Persistent link: https://EconPapers.repec.org/RePEc:tse:wpaper:131199

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