2015
DOI: 10.2139/ssrn.2642369
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Blinded by Experience: Prior Experience, Negative News and Belief Updating

Abstract: Traditional models of operations management involve dynamic decision-making assuming optimal (Bayesian) updating. However, behavioral theory suggests that individuals exhibit bias in their beliefs and decisions. We conduct both a field study and two laboratory studies to examine the phenomena in the context of health. In particular, we examine how an individual's prior experiences and the experiences of those around them alter the operational decisions that the individual makes. We draw on an exogenous announc… Show more

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Cited by 3 publications
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