Abstract
An experiment is reported which tests for positive confirmation bias in a setting in which individuals choose what information to buy, prior to making a decision. The design - an adaptation of Wason's selection task - reveals the use that subjects make of information after buying it. Strong evidence of positive confirmation bias, in both information acquisition and information use, is found; and this bias is found to be robust to experience. It is suggested that the bias results from a pattern of reasoning which, although producing sub-optimal decisions, is internally coherent and which is self-reinforcing.
Original language | English |
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Pages (from-to) | 59-99 |
Number of pages | 41 |
Journal | Theory and Decision |
Volume | 50 |
Issue number | 1 |
DOIs | |
Publication status | Published - 1 Feb 2001 |
Keywords
- Positive confirmation bias
- Selection task
- Information acquisition