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Overconfidence, Trust, and Information-Seeking among Smallholder Farmers: Experimental Evidence from Ethiopia

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  • Hiwot Mesfin
  • Francesco Cecchi
  • Eleonora Nillesen
  • Nyasha Tirivayi

Abstract

We investigate the role of overconfidence and trust in farmers’ information-seeking behavior using a lab-in-the-field experiment in Ethiopia. Our results show that overconfidence is widespread among farmers in our sample, predicts less information-seeking, and is associated with an efficiency loss. Moreover, we find that farmers tend to seek more information from extension agents than from peer farmers and that information-seeking increases when the source is perceived as more knowledgeable. When aiming to increase the adoption of productivity-enhancing practices, farmers’ overconfidence in their own information set and their trust in the quality of information shared should not be overlooked.

Suggested Citation

  • Hiwot Mesfin & Francesco Cecchi & Eleonora Nillesen & Nyasha Tirivayi, 2023. "Overconfidence, Trust, and Information-Seeking among Smallholder Farmers: Experimental Evidence from Ethiopia," Economic Development and Cultural Change, University of Chicago Press, vol. 72(1), pages 79-122.
    • Handle: RePEc:ucp:ecdecc:doi:10.1086/719464
    DOI: 10.1086/719464
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