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

Abstract

The papers by Grether, Schwartz, and Wilde (GSW) and by Edwardsand von Winterfeldt (EW) provide us with excellent syntheses offascinating literatures that are of importance to anyone interested inhuman behavior. I learned a great deal from these papers and find myselfpersuaded by GSW's contention that information overload is not aserious issue for consumer law and by EW's conclusion that cognitiveprocesses are, in fundamental ways, learned intellectual skills. However,viewing the most useful role of a commentator to be that of an irritatingtroublemaker, my remarks will primarily be directed to what I believeare the more problematic aspects of their positions.

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