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Biases in Information Selection and Processing: Survey Evidence from the Pandemic

Author

Listed:
  • Ester Faia

    (Goethe University Frankfurt and CEPR)

  • Andreas Fuster

    (EPFL, Swiss Finance Institute and CEPR)

  • Vincenzo Pezone

    (Tilburg University)

  • Basit Zafar

    (University of Michigan and NBER)

Abstract

We conduct two survey experiments to study which information people choose to consume and how it affects their beliefs. In the first experiment, respondents choose between optimistic and pessimistic article headlines related to the COVID-19 pandemic and are then randomly shown one of the articles. Respondents with more pessimistic prior beliefs tend to prefer pessimistic headlines, providing evidence of confirmation bias. Additionally, respondents assigned to the less preferred article discount its information. The second experiment studies the role of partisan views, uncovering strong source dependence: news source revelation further distorts information acquisition, eliminating the role of priors in article choice.

Suggested Citation

  • Ester Faia & Andreas Fuster & Vincenzo Pezone & Basit Zafar, 2024. "Biases in Information Selection and Processing: Survey Evidence from the Pandemic," The Review of Economics and Statistics, MIT Press, vol. 106(3), pages 829-847, May.
    • Handle: RePEc:tpr:restat:v:106:y:2024:i:3:p:829-847
    DOI: 10.1162/rest_a_01187
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