that the added information acts as placebic information and leads to information illusion. However, the added information … practitioners and researchers alike. Both regulators and policy makers should consider that placebic information can significantly … relevant and avoid irrelevant information. Researchers should be aware that placebic information asymmetrically influences …

This study analyzes investors' perception of placebic information and its impact on stock price estimates. We initiate … show that placebic information increases the perceived amount of relevant information. Individual participants …' characteristics, such as gender, financial knowledge or overconfidence, do not affect these findings. Placebic information does not …

This study analyzes investors' perception of placebic information and its impact on stock price estimates. We initiate … show that placebic information increases the perceived amount of relevant information. Individual participants …' characteristics, such as gender, financial knowledge or overconfidence, do not affect these findings. Placebic information does not …