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Associative Memory and Belief Formation / Benjamin Enke, Frederik Schwerter, Florian Zimmermann.
- Format:
- Book
- Author/Creator:
- Enke, Benjamin.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w26664.
- NBER working paper series no. w26664
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2020.
- Summary:
- Information is often embedded in memorable contexts, which may cue the asymmetric recall of similar past news through associative memory. We design a theory-driven experiment, in which participants observe signals about hypothetical companies. Here, identical signal realizations are communicated with identical contexts: stories and images. Because participants asymmetrically remember those past signals that get cued by the current context, beliefs systematically overreact. This overreaction depends in predictable ways on the signal history; the correlation between signals and contexts; and the scope for forgetting and associative memory. We quantify these results by structurally estimating a model of associative recall.
- Notes:
- Print version record
- January 2020.
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