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Part 1: Document Description
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Citation |
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Title: |
A Test of Information Aversion |
Identification Number: |
doi:10.11588/data/G0RNAZ |
Distributor: |
heiDATA |
Date of Distribution: |
2020-04-16 |
Version: |
1 |
Bibliographic Citation: |
Kops, Christopher; Pasichnichenko, Illia, 2020, "A Test of Information Aversion", https://doi.org/10.11588/data/G0RNAZ, heiDATA, V1, UNF:6:GkvwqL6qHXH4RRvkp1xJWA== [fileUNF] |
Citation |
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Title: |
A Test of Information Aversion |
Identification Number: |
doi:10.11588/data/G0RNAZ |
Authoring Entity: |
Kops, Christopher (Alfred-Weber-Institute of Economics, Heidelberg University, Heidelberg, Germany) |
Pasichnichenko, Illia (Alfred-Weber-Institute of Economics, Heidelberg University, Heidelberg, Germany) |
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Distributor: |
heiDATA |
Distributor: |
heiDATA: Heidelberg Research Data Repository |
Date of Distribution: |
2020-04-16 |
Holdings Information: |
https://doi.org/10.11588/data/G0RNAZ |
Study Scope |
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Keywords: |
Social Sciences, value of information |
Abstract: |
The standard Bayesian model implies that information can never have a negative value. We put this implication to the proof. Our paper provides the first test of the value (positive or negative) of information under uncertainty. We show that the ``Bayesian implication'' stands in conflict with the information-averse behavior that is revealed in our experiment. This behavior demonstrates that the value of truthful and unambiguous information may indeed be negative. Our findings complement predictions from recent theoretical work in showing that negative value of information correlates with ambiguity aversion. This highlights the importance of counseling for decision-making under uncertainty. |
Methodology and Processing |
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Sources Statement |
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Data Access |
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Other Study Description Materials |
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Related Publications |
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Citation |
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Title: |
Kops, C., & Pasichnichenko, I. (2020, April). A Test of Information Aversion [Working Paper]. |
Identification Number: |
https://doi.org/10.11588/heidok.00028244 |
Bibliographic Citation: |
Kops, C., & Pasichnichenko, I. (2020, April). A Test of Information Aversion [Working Paper]. |
File Description--f3387 |
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File: voi-data-raw.tab |
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Notes: |
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