Arrow's information paradox asserts that demand for undisclosed information is undefined. Reassessing the paradox, I … argue that the value of information for the buyer depends on its relevance, which can be known ex ante, and the uncertainty … shifts to the capability of the seller to acquire the knowledge and her reliability in disclosing it. These three together …

We examine whether the desire for more information is people's dominant motive for reading economic and political news … experimentally vary people's beliefs about the informativeness of news. Inconsistent with the desire for more information being the … information reduce their demand for news from this newspaper. Furthermore, treated respondents who think that a news outlet is …

insured individuals. Thus, the functioning of social norms depends crucially on information, in particular on what norm … enforcers are able to observe about an insured individual's behavior. Information is also decisive when distinguishing between …

repeated negative institutional shocks and how such shocks influence the development of an information matrix as well as the … transmission of information across time and generations. We show that African-Americans who were less likely to be influenced by … negative institutional shocks and the information stock created from these experiences, have similar self-employment rates to …

We estimate the effect of publicly disseminated information about school-level achievement on students' mobility … revealed. In general, parents respond to information soon after it becomes available. Once the information is absorbed, they do … respond when information is widely disseminated and discussed in the media. …

Economists usually think that rational voters have little incentives to acquire costly information. We present a … information if media technology is available because then they do not condition their informational decisions on being pivotal …-ride. Further, we show how the quality of information depends on the size of the electorate, the prior knowledge of voters and on …

supplied information. Outside of the lab, it is difficult to disentangle the effect of the cost of information itself from the … effect of self-selection by individuals who tend to gain the most from this information. We thus create an environment in the … lab where subjects are offered additional, useful and identical information on the state of the world across treatments …

No voters cast their votes based on perfect information, but better educated and richer voters are on average better … strong correlation between income and political information, Congress representatives vote more conservatively, which is also …