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Studying Information Acquisition in the Field: A Practical Guide and Review

Author

Listed:
  • Francesco Capozza

    (Erasmus University Rotterdam, Tinbergen Institute)

  • Ingar Haaland

    (University of Bergen and CESifo)

  • Christopher Roth

    (University of Cologne, ECONtribute, briq, CESifo, CEPR, CAGE Warwick)

  • Johannes Wohlfart

    (Department of Economics and CEBI, University of Copenhagen, CESifo, Danish Finance Institute)

Abstract

We review the emerging literature on information acquisition in field settings. We first document an increase in studies on information acquisition and review relevant studies in different subfields of economics, including macroeconomics, political economy, labor economics, health economics, and finance. We next provide an overview of empirical tech-niques to measure information acquisition and discuss the advantages and disadvantages of different methods. We then discuss how one can design studies to test the predictions of different theories of information acquisition. We conclude by highlighting possible directions for future research.

Suggested Citation

  • Francesco Capozza & Ingar Haaland & Christopher Roth & Johannes Wohlfart, 2021. "Studying Information Acquisition in the Field: A Practical Guide and Review," ECONtribute Discussion Papers Series 124, University of Bonn and University of Cologne, Germany.
    • Handle: RePEc:ajk:ajkdps:124
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    Cited by:

    1. Heiner Mikosch & Christopher Roth & Samad Sarferaz & Johannes Wohlfart, 2024. "Uncertainty and Information Acquisition: Evidence from Firms and Households," American Economic Journal: Macroeconomics, American Economic Association, vol. 16(2), pages 375-405, April.
    2. Chopra, Felix & Haaland, Ingar & Roth, Christopher, 2022. "Do people demand fact-checked news? Evidence from U.S. Democrats," Journal of Public Economics, Elsevier, vol. 205(C).
    3. Roth, Christopher & Chopra, Felix & Haaland, Ingar, 2022. "The Demand for News: Accuracy Concerns versus Belief Confirmation Motives," CEPR Discussion Papers 17169, C.E.P.R. Discussion Papers.
    4. Sebastian Blesse & Philipp Lergetporer & Justus Nover & Katharina Werner, 2023. "Transparency and Policy Competition: Experimental Evidence from German Citizens and Politicians," Rationality and Competition Discussion Paper Series 387, CRC TRR 190 Rationality and Competition.
    5. Michelle Acampora & Francesco Capozza & Vahid Moghani, 2022. "Mental Health Literacy, Beliefs and Demand for Mental Health Support among University Students," Tinbergen Institute Discussion Papers 22-079/I, Tinbergen Institute.

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    More about this item

    Keywords

    Information acquisition; Willingness to pay; Click data; Experimental Design; Beliefs; Surveys;
    All these keywords.

    JEL classification:

    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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