Applying Prospect Theory to the Informational Utility of Young Adults

Abstract

This study empirically examines the information behavior of young adults (university students) from a utility perspective, drawing on prospect theory. It focuses on three components: (1) the shift from experienced utility to decision utility, (2) current satisfaction as a reference point, and (3) loss aversion. Perceived utility is compared across intellectual, sensory, and emotional types of information. The results indicate that informational utility among young adults is generally high, with particularly strong satisfaction for sensory information. Sensory information also exhibits a larger shift from experienced to decision utility and greater consistency between past impressions and current evaluations. These findings suggest that young adults derive enjoyment and self-fulfillment from information itself and sustain their information behavior while avoiding declines in perceived utility.