Beyond Instrumental Value: How Complexity Shapes Information Demand
Speaker: A/Prof Sevgi Yuksel
Affiliaiton: New York University
Zoom: https://uqz.zoom.us/j/82603079317
Abstract: We experimentally investigate how features of information structures beyond their instrumental value influence information demand. Using novel methods that minimize Bayesian reasoning errors, we find that while participants strongly favor structures with higher instrumental value, they systematically deviate from optimal choices in predictable ways. We identify key structure features that drive these deviations and show that they are as predictive of behavior as individual characteristics, with stronger effects among participants who are otherwise more likely to act optimally. Our findings suggest that these distortions stem from the cognitive complexity of evaluating information structures, with implications for models of information demand and the design of effective disclosure strategies.
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