Persuasion: Empirical Evidence

TLDR

The paper surveys empirical evidence on how persuasive communication influences consumer, voter, donor, and investor behavior, the models that explain responses, persuader incentives, and its impact on economic and political equilibrium. The review examines persuasion across consumers, voters, donors, and investors, organized around four questions concerning behavioral effects, modeling, incentives, and equilibrium outcomes.

Abstract

We provide a selective survey of empirical evidence on the effects as well as the drivers of persuasive communication. We consider persuasion directed at consumers, voters, donors, and investors. We organize our review around four questions. First, to what extent does persuasion affect the behavior of each of these groups? Second, what models best capture the response to persuasive communication? Third, what are persuaders' incentives, and what limits their ability to distort communications? Finally, what evidence exists on the way persuasion affects equilibrium outcomes in economics and politics?