가. 일시 : 11월 26일(목) 11시~13시

나. 장소 : 미래관 906호 세미나실

다. 연사 : 제현담 교수 (경제학부)

라. 제목 : Demand for Belief-Congruent Advice

마. 초록 : We study whether individuals are willing to sacrifice informativeness to obtain advice that is more likely to confirm their prior beliefs. Subjects choose between two fully disclosed, Blackwell-ordered advisors. When the less informative advisor is more likely to provide belief-congruent advice, subjects choose it in 46.0% of rounds. The corresponding choice rate is 25.3% when the more informative advisor is more likely to provide belief-congruent advice. To distinguish belief congruence preferences from accuracy concerns, we model advisor demand as a function of perceived accuracy and belief congruence. Our estimates reveal a significant average preference for belief congruence, with a marginal weight 39.6% as large as that placed on perceived accuracy. In contrast, there is no evidence of directional distortion in belief updating upon receiving belief-congruent advice. Our findings suggest that individuals can value belief-congruent information even at the expense of informativeness.