Podcast
Questions and Answers
What are the two ways of providing forecast information compared in the laboratory experiment?
What are the two ways of providing forecast information compared in the laboratory experiment?
Probability and recommendation
What is the potential value of an unequivocal recommendation in decision making?
What is the potential value of an unequivocal recommendation in decision making?
To sidestep errors boundedly rational decision makers are prone to make
What is the potential downside of an unequivocal recommendation that proves incorrect?
What is the potential downside of an unequivocal recommendation that proves incorrect?
Inducing a cry wolf effect, reducing compliance with future recommendations
In what game did subjects participate in Study 1 of the experiment?
In what game did subjects participate in Study 1 of the experiment?
What were the four forecast information conditions in Study 1?
What were the four forecast information conditions in Study 1?
What did Study 2 compare to the recommendation only and recommendation and probability conditions?
What did Study 2 compare to the recommendation only and recommendation and probability conditions?
What is the finding regarding the efficacy of forecast formats for inducing expected value optimal actions?
What is the finding regarding the efficacy of forecast formats for inducing expected value optimal actions?
How does a combination forecast, providing both recommendation and probability, compare to individual approaches?
How does a combination forecast, providing both recommendation and probability, compare to individual approaches?
What was the finding from Study 2 regarding the impact of explaining how recommendation is determined on the frequency of taking status quo or siren action?
What was the finding from Study 2 regarding the impact of explaining how recommendation is determined on the frequency of taking status quo or siren action?
How does adding probability information on top of a recommendation affect the frequency of taking status quo and siren actions?
How does adding probability information on top of a recommendation affect the frequency of taking status quo and siren actions?
What role did risk aversion play in explaining the differences in efficacy between probability and recommendation forecasts?
What role did risk aversion play in explaining the differences in efficacy between probability and recommendation forecasts?
What is the impact of the cry wolf effect on recommendation forecasts?
What is the impact of the cry wolf effect on recommendation forecasts?
