Work

A knowledge curse: how knowledge can reduce human welfare

Year: 2024

Type: article

Abstract: Greater knowledge is always an advantage for a rational individual. However, this article shows that for a group of rational individuals greater knowledge can backfire, leading to a worse outcome for all. Surprisingly, this can happen even when new knowledge does not mean the discovery of a new action but simply provides a deeper understanding of the interaction at stake. More specifically, enhanced knowledge about the current state of nature may hinder cooperation among purely self-interested individuals. The paper describes this paradoxical possibility-a 'knowledge curse'-and analyses the evolutionary process that occurs if, initially, only a few people have access to the greater knowledge. It concludes with a tentative comment on ways to avert this potential knowledge backlash.

Source: Royal Society Open Science

DOI: 10.1098/rsos.240358

Authors: Kaushik Basu, Jörgen Weibull

Institutions: Cornell University, Stockholm School of Economics

Language: English

Topic: Evolutionary Game Theory and Cooperation

Subfield: Sociology and Political Science

Field: Social Sciences

Domain: Social Sciences

Open Access status: gold

Estimated APC paid: $1,471

Funder: Jan Wallanders och Tom Hedelius Stiftelse samt Tore Browaldhs Stiftelse