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      Expectations with Endogenous Information Acquisition: An Experimental Investigation in Geneva


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      November 13, 2019

      Wednesday   2:15 PM

      Rue du Général- Dufour 24
      Geneva, Genève 1211

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      EVENT DETAILS
      Expectations with Endogenous Information Acquisition: An Experimental Investigation

      13.11.2019 14:15 – 15:45

      INSTITUTE OF ECONOMICS AND ECONOMETRICS SEMINAR / ABSTRACT

      We use a survey experiment to generate direct evidence on how people acquire and process information. Participants can buy different information signals that could help them forecast the future median national home price. Participants put substantial value on their preferred signal and, when acquired, use the signal in the formation of their expectations. However, they disagree on which signal to buy. As a result, making information cheaper does not decrease the cross-sectional dispersion of expectations. We provide a model with costly acquisition and processing of information, and show that it can match almost all of our empirical results.
      Lieu

      Bâtiment: Uni Mail

      Bd du Pont-d'Arve 40
      1205 Geneva

      Room: M 3250, 3rd floor

      Categories: University & Alumni

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