Experiments on individual decision-making and information

This thesis is composed by three experiments that explore the role of information in individual decision-making. In Chapter 1 it is presented an experimental test of the contextual inference theory (Kamenica,2008). The experiment shows that the dimension of choice sets conveys payoff-relevant information in decision-making: even when options are not directly observable, the likelihood of finding an option that fits individual tastes can be inferred from the set size. Information on the lenght of a product line is then shown to be relevant in individual decision making. In Chapter 2 the decision-maker is presented with payoff irrelevant information: group-membership and others' behavior. The experiment test if and how these information affect individual decision of behaving ethically. The results provide evidence of the effectiveness of these information in shaping moral behavior. Chapter 3 aims at going into the black box of information processing under uncertainty with an eye-tracking experiment. The aim of this last chapter is to contribute to the understanding of the choice process under different dimensions of the choice sets (small and large), and its relation with the response time