How do individuals value noisy information that guides economic decisions? In our laboratory experiment, we find that individuals under-react to increasing the informativeness of a signal, thus undervalue high-quality information, and that they disproportionately prefer information that may...

We study a model of social learning with overlapping generations, where agents meet others and share data about an underlying state over time. We examine under what conditions the society will produce individuals with precise knowledge about the state of the world. Under the full information...