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On Nudges, Fake News, and the Impact of Experience on Choice Behavior| old_uid | 17366 |
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| title | On Nudges, Fake News, and the Impact of Experience on Choice Behavior |
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| start_date | 2019/02/15 |
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| schedule | 11h-12h30 |
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| online | no |
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| summary | Basic decision research highlights large differences between decisions that are made based on a description of the incentive structure (like the situations studied by Kahneman & Tversky, 1979), and decisions that are made based on past experience. Decision makers tend to overweight rare events in decisions from description, and experience triggers the opposite bias (Barron & Erev, 2003). These results can be captured with the assumptions that (1) people tend to select the option that provided the best outcomes in small set similar situations in the past, and (2) experience increases the probability of relying on truly similar situations. The current paper reviews this research, and clarifies its predictions of the impact of nudges and fake news. Under our analysis, fake news is an example of nudge (it is an aspect of the choice architecture that alters people’s behavior in a predictable way without forbidding any options or significantly changing their economic incentives). The initial impact of nudges is overgeneralization of situations that seem similar to the current task. The effect is robust to experience when the initial behavior minimizes the probability of regret. |
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| responsibles | Le Lec, Laslier |
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