Information Aversion
研究了信息厌恶这种基于偏好的对新闻流的恐惧如何影响信息获取和风险承担决策，解释了投资者为何在股价低或波动时少观察投资组合，以及金融危机期间接收警报能提升福利。
Information aversion, a preference-based fear of news flows, has rich implications for decisions involving information and risk-taking. It can explain key empirical patterns on how households pay attention to savings, namely that investors observe their portfolios infrequently, particularly when stock prices are low or volatile. Receiving state-dependent alerts following sharp market downturns such as during the financial crisis of 2008 improves welfare. Information averse investors display an ostrich behavior: overhearing negative news prompts more inattention. Their fear of frequent news encourages them to hold undiversified portfolios.