Replication data for: The Good News-Bad News Effect: Asymmetric Processing of Objective Information about Yourself
Principal Investigator(s): View help for Principal Investigator(s) David Eil; Justin M. Rao
Version: View help for Version V1
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| AEJMicro-2010-0077_data_code | 10/12/2019 11:15:PM | ||
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Project Citation:
Eil, David, and Rao, Justin M. Replication data for: The Good News-Bad News Effect: Asymmetric Processing of Objective Information about Yourself. Nashville, TN: American Economic Association [publisher], 2011. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E114379V1
Project Description
Summary:
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We study processing and acquisition of objective information regarding qualities that people care about, intelligence and beauty. Subjects receiving negative feedback did not respect the strength of these signals, were far less predictable in their updating behavior and exhibited an aversion to new information. In response to good news, inference conformed more closely to Bayes' Rule, both in accuracy and precision. Signal direction did not affect updating or acquisition in our neutral control. Unlike past work, our design varied direction and agreement with priors independently. The results indicate that
confirmation bias is driven by direction; confirmation alone had no
effect. (JEL D82, D83)
Scope of Project
JEL Classification:
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D82 Asymmetric and Private Information; Mechanism Design
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
D82 Asymmetric and Private Information; Mechanism Design
D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
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