Intrinsic Information Preferences and Skewnesst

• 成果类型: Article
• 署名作者: Masatlioglu, Yusufcan; Orhun, Yesim; Raymond, Collin
• 署名单位: University System of Maryland; University of Maryland Baltimore; University of Michigan System; University of Michigan; Cornell University
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.20171474
• 发表日期: 2023
• 页码: 2615-2644
• 关键词: temporal resolution; asset returns; risk-aversion; consumption; uncertainty; utility; BEHAVIOR; substitution; probability; lotteries

摘要

We examine whether people have an intrinsic preference for nega-tively skewed or positively skewed information structures and how these preferences relate to intrinsic preferences for informativeness. The results from lab experiments show a strong intrinsic preference for positively skewed information and suggest that providing such information can improve information uptake. Evidence from field studies in decision-and ego-relevant contexts replicates these find-ings. We discuss our findings through the lens of existing theories and the potential trade-offs in information provision policies. (JEL C91, C93, D12, D82, D83)