... value of evidence. This finding follows from mental accounting and information choice theories that, in combination, predict that choosing to undertake effortful investigation can magnify aversion to costly adjustments. In our first experiment, effort choice reduces adjustments only when the same...

..., and Chapman University for their helpful comments and suggestions. Editor's note: Accepted by S. Jane Jollineau, under the Senior Editorship of Mary E. Barth. 5 2018 10 2019 2020 auditor underreporting aggregation mental accounting Underreporting, or reporting fewer...