Getting advice from the same source but at a different cost

About this book

Facing a decision, people often ask for advice. Advice taking and advice giving are indeed common activities across a wide range of contexts, yet whether people use advice in a way that is helpful to them is not well understood. How do people evaluate the usefulness of advice they receive? Drawing on aspects of behavioral decision theory, this paper argues that the cost of advice, independent of its quality, will affect how it is used.