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| Format: | Recurso digital |
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Zenodo
2025
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| Online Access: | https://doi.org/10.3982/QE2094 |
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Table of Contents:
- <p>Belief-updating biases hinder the correction of inaccurate beliefs and lead to suboptimal decisions. We complement Rabin and Schrag’s (1999) portable extension of theBayesianmodelbyincludingconservatisminadditiontoconfirmatorybias. Additionally,weshowhowtoidentifythesetwoformsofbiasesfromchoices.Inan experiment, we found that the subjects exhibited confirmatory bias by misreading 19% of the signals that contradicted their priors. They were also conservative andacted as if they missed 28%ofthesignals.</p>