Decision Making with Naive Advice
Abstract
In many of the decisions we make we rely on the advice of others who have preceded us. For example, before we buy a car, choose a dentist, choose a spouse, find a school for our children, sign on to a retirement plan, etc. we usually ask the advice of others who have experience with such decisions. The same is true when we make major financial decisions. Here people easily take advice from their fellow workers or relatives as to how to choose...
Paper Details
Title
Decision Making with Naive Advice
Published Date
Apr 1, 2003
Journal
Volume
93
Issue
2
Pages
196 - 201
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