Do we listen to advice just because we paid for it?

Do we listen to advice just because we paid for it?

by Francesca Gino, Harvard Business School. Division of Research

Part of Working paper / Division of Research, Harvard Business School -- 05-017

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When facing a decision, people often ask others for advice. Whether people use advice in a way that is helpful to them is not well understood. How do people evaluate the usefulness of the 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.

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