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An Anonymous Patron writes "HBS Working Knowledge: Leadership: The Hidden Cost of Buying Information We all need good information to make decisionsâ€”that is why consulting is an industry that never goes out of style. But paying for information can carry a hidden cost: We may give it more weight in our decision making than it deserves.
That's one of the conclusions made by Francesca Gino, a Harvard Business School post-doctoral fellow in the Technology and Operations Management Unit. She recently published a working paper, "Getting Advice from the Same Source but at a Different Cost: Do We Overweigh Information Just Because We Paid for It?""