A Test of Information Aversion (doi:10.11588/data/G0RNAZ)

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Part 3: Data Files Description
Part 4: Variable Description
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A Test of Information Aversion

doi:10.11588/data/G0RNAZ

heiDATA

2020-04-16

1

Kops, Christopher; Pasichnichenko, Illia, 2020, "A Test of Information Aversion", https://doi.org/10.11588/data/G0RNAZ, heiDATA, V1, UNF:6:GkvwqL6qHXH4RRvkp1xJWA== [fileUNF]

A Test of Information Aversion

doi:10.11588/data/G0RNAZ

Kops, Christopher (Alfred-Weber-Institute of Economics, Heidelberg University, Heidelberg, Germany)

Pasichnichenko, Illia (Alfred-Weber-Institute of Economics, Heidelberg University, Heidelberg, Germany)

heiDATA

heiDATA: Heidelberg Research Data Repository

2020-04-16

https://doi.org/10.11588/data/G0RNAZ

Social Sciences, value of information

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.

Kops, C., & Pasichnichenko, I. (2020, April). A Test of Information Aversion [Working Paper].

https://doi.org/10.11588/heidok.00028244

Kops, C., & Pasichnichenko, I. (2020, April). A Test of Information Aversion [Working Paper].

• Number of cases: 117

• No. of variables per record: 23

• Type of File: text/tab-separated-values

UNF:6:GkvwqL6qHXH4RRvkp1xJWA==

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• SESSION - SESSION
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• QUESTION1 - QUESTION1
• QUESTION2 - QUESTION2
• QUESTION3 - QUESTION3
• QUESTION4 - QUESTION4
• QUESTION5 - QUESTION5
• LIKING1 - LIKING1
• LIKING2 - LIKING2
• LIKING3 - LIKING3
• LIKING4 - LIKING4
• LIKING5 - LIKING5
• GREENK - GREENK
• GREENM - GREENM
• SEX - SEX
• AGE - AGE
• FIELD - FIELD
• STATCLASS - STATCLASS
• RIGHT - RIGHT
• RELIGIOUS - RELIGIOUS
• GAMES - GAMES
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Summary Statistics: Valid 115.0; Min. 2.0; Max. 9.0; StDev 2.18125989667488; Mean 4.8000000000000025

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Label:

analysis.R

type/x-r-syntax

Label:

corstars.R

type/x-r-syntax

Label:

instructions, decision sheet, questionnaire.pdf

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