A Comment on Information Overload, Cognitive Illusions, and Their Implications for Public Policy

Abstract

The papers by Grether, Schwartz, and Wilde (GSW) and by Edwards and von Winterfeldt (EW) provide us with excellent syntheses of fascinating literatures that are of importance to anyone interested in human behavior. I learned a great deal from these papers and find myself persuaded by GSW's contention that information overload is not a serious issue for consumer law and by EW's conclusion that cognitive processes are, in fundamental ways, learned intellectual skills. However, viewing the most useful role of a commentator to be that of an irritating troublemaker, my remarks will primarily be directed to what I believe are the more problematic aspects of their positions.