Document Type

Working Paper

Publication Date

11-2-2009

Working Paper Number

WP #09026, November 2009; Old working paper #13128

Abstract

This paper reviews and synthesizes the theory of information economics and empirical evidence on how information changes the behavior of consumers, households and firms. I show that consumers respond to new information in food experiments but perhaps not in retirement account management. Some seeming perverse consumer/investor decision making may be a result of a complex decision with a low expected payoff.

JEL Classification

D8, D01, D03, D1, D2

File Format

application/pdf

Length

23 pages

Included in

Economics Commons

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