How do individuals’ beliefs respond to ego-relevant information? After receiving noisy, but unbiased performance feedback, participants in an experiment overestimate their own scores on a quiz and believe their feedback to be ‘unlucky’, estimating that it under-represents their score by...

Laboratory experiments were conducted to investigate how private and public information affect the selection of an innovation and the timing of adoption. The results shed light on the behavioral anomaly called the "energy-efficiency gap" in which consumers and firms delay adoption of...