The relevance of irrelevant information

A-Tier
Journal: Experimental Economics
Year: 2021
Volume: 24
Issue: 3
Pages: 985-1018

Score contribution per author:

1.341 = (α=2.01 / 3 authors) × 2.0x A-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Abstract This paper experimentally investigates the effect of introducing unavailable alternatives and irrelevant information regarding the alternatives on the optimality of decisions in choice problems. We find that the presence of unavailable alternatives and irrelevant information generates suboptimal decisions with the interaction between the two amplifying this effect. Irrelevant information in any dimension increases the time costs of decisions. We also identify a “preference for simplicity” beyond the desire to make optimal decisions or minimize time spent on a decision problem.

Technical Details

RePEc Handle
repec:kap:expeco:v:24:y:2021:i:3:d:10.1007_s10683-020-09687-3
Journal Field
Experimental
Author Count
3
Added to Database
2026-01-25