Information Avoidance

2017/03/01 by Russell Golman, David Hagmann, George Loewenstein · 822 citations
Decision Sciences · Psychology · Social Sciences · #Decision-Making and Behavioral Economics #Economics #Experimental Behavioral Economics Studies #Function (biology) #Game Theory and Applications #Incentive #Microeconomics #Psychology

paper · pdf · doi:10.1257/jel.20151245

published in Journal of Economic Literature 55(1), 96-135 (American Economic Association)

openalex publication_date 2017/03/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/31

Abstract

We commonly think of information as a means to an end. However, a growing theoretical and experimental literature suggests that information may directly enter the agent's utility function. This can create an incentive to avoid information, even when it is useful, free, and independent of strategic considerations. We review research documenting the occurrence of information avoidance, as well as theoretical and empirical research on reasons why people avoid information, drawing from economics, psychology, and other disciplines. The review concludes with a discussion of some of the diverse (and often costly) individual and societal consequences of information avoidance. (JEL D82, D83)

Citations

• Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty
• Confirmation Bias: A Ubiquitous Phenomenon in Many Guises
• Temporal Resolution of Uncertainty and Dynamic Choice Theory
• What Drives Media Slant? Evidence From U.S. Daily Newspapers
• Optimal Expectations

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