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Abstract In the classical information theoretic framework, information “value” is proportional to how novel/surprising the information is. Recent work building on such notions claimed that false news spreads faster than truth online because false news is more novel and therefore surprising. However, another determinant of surprise, semantic meaning (e.g., information’s consistency or inconsistency with prior beliefs), should also influence value and sharing. Examining sharing behavior on Twitter, we observed separate relations of novelty and belief consistency with sharing. Though surprise could not be assessed in those studies, belief consistency should relate to less surprise, suggesting the relevance of semantic meaning beyond novelty. In two controlled experiments, belief-consistent (vs. belief-inconsistent) information was shared more despite consistent information being the least surprising. Manipulated novelty did not predict sharing or surprise. Thus, classical information theoretic predictions regarding perceived value and sharing would benefit from considering semantic meaning in contexts where people hold pre-existing beliefs.
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The demand for, and avoidance of, information
Management scientists recognize that decision making depends on the information people have but lack a unified behavioral theory of the demand for (and avoidance of) information. Drawing on an existing theoretical framework in which utility depends on beliefs and the attention paid to them, we develop and test a theory of the demand for information encompassing instrumental considerations, curiosity, and desire to direct attention to beliefs one feels good about. We decompose an individual’s demand for information into the desire to refine beliefs, holding attention constant, and the desire to focus attention on anticipated beliefs, holding these beliefs constant. Because the utility of resolving uncertainty (i.e., refining beliefs) depends on the attention paid to it and more important or salient questions capture more attention, demand for information depends on the importance and salience of the question(s) it addresses. In addition, because getting new information focuses attention on one’s beliefs and people want to savor good news and ignore bad news, the desire to obtain or avoid information depends on the valence (i.e., goodness or badness) of anticipated beliefs. Five experiments (n = 2,361) test and find support for these hypotheses, looking at neutrally valenced as well as ego-relevant information. People are indeed more inclined to acquire information (a) when it feels more important, even if it cannot aid decision making (Experiments 1A and 2A); (b) when a question is more salient, manipulated through time lag (Experiments 1B and 2B); and (c) when anticipated beliefs have higher valence (Experiment 2C).
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- Award ID(s):
- 1919453
- PAR ID:
- 10403354
- Editor(s):
- Yan Chen
- Date Published:
- Journal Name:
- Management Science
- Volume:
- 68
- Issue:
- 9
- ISSN:
- 2745-9934
- Page Range / eLocation ID:
- 6454-6476
- Format(s):
- Medium: X
- Sponsoring Org:
- National Science Foundation
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