Konferenzbeitrag
Motivated belief updating and rationalization of information
We study belief updating about relative performance in an ego-relevant task. Manipulating beliefs about the ego-relevance of the task, we show that subjects update their beliefs about relative performance more optimistically as direct belief utility increases. This finding provides clean evidence for the optimistic belief updating hypothesis and supports theoretical models with direct belief utility. Moreover, we document that subjects ex-post rationalize information by discounting their beliefs about the ego-relevance of the task as the number of bad signals increases. Taken together, these findings suggest that subjects use two alternative strategies to protect their ego despite the presence of objective information.
- Sprache
-
Englisch
- Erschienen in
-
Series: Beiträge zur Jahrestagung des Vereins für Socialpolitik 2021: Climate Economics
- Klassifikation
-
Wirtschaft
Design of Experiments: Laboratory, Individual
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Expectations; Speculations
- Thema
-
Motivated beliefs
Optimistic belief updating
Direct belief utility
Bayes' rule
Ex-post rationalization
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Drobner, Christoph
Goerg, Sebastian J.
- Ereignis
-
Veröffentlichung
- (wer)
-
ZBW - Leibniz Information Centre for Economics
- (wo)
-
Kiel, Hamburg
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Konferenzbeitrag
Beteiligte
- Drobner, Christoph
- Goerg, Sebastian J.
- ZBW - Leibniz Information Centre for Economics
Entstanden
- 2021
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