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Learning versus Unlearning: An Experiment on Retractions

Author

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  • Duarte Gonçalves
  • Jonathan Libgober
  • Jack Willis

Abstract

Widely discredited ideas nevertheless persist. Why do we fail to “unlearn”? We study the effectiveness of retractions—the revoking of earlier information—in correcting beliefs. Our experimental design identifies belief updating from retractions— unlearning—and compares it to updating from equivalent new information—learning. Subjects do not fully unlearn from retractions and update approximately one-third less from retractions versus new information. Although we document several well-known biases in belief updating, our results require an explanation that treats retractions as intrinsically different. We find evidence for one such mechanism, while ruling out several others: retractions are more complex than direct information.

Suggested Citation

  • Duarte Gonçalves & Jonathan Libgober & Jack Willis, 2021. "Learning versus Unlearning: An Experiment on Retractions," NBER Working Papers 29512, National Bureau of Economic Research, Inc.
  • Handle: RePEc:nbr:nberwo:29512
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    Cited by:

    1. Ned Augenblick & Eben Lazarus & Michael Thaler, 2021. "Overinference from Weak Signals and Underinference from Strong Signals," Papers 2109.09871, arXiv.org, revised Jun 2024.

    More about this item

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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