Do we listen to advice just because we paid for it? The impact of advice cost on its use
Volume: 107, Issue: 2, Pages: 234 - 245
Published: Nov 1, 2008
Abstract
When facing a decision, people often rely on advice received from others. Previous studies have shown that people tend to discount others’ opinions. Yet, such discounting varies according to several factors. This paper isolates one of these factors: the cost of advice. Specifically, three experiments investigate whether the cost of advice, independent of its quality, affects how people use advice. The studies use the Judge–Advisor System (JAS)...
Paper Details
Title
Do we listen to advice just because we paid for it? The impact of advice cost on its use
Published Date
Nov 1, 2008
Volume
107
Issue
2
Pages
234 - 245
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