People adaptively use information to improve their internal states and external outcomes.

Information can strongly impact people's affect, their level of uncertainty and their decisions. It is assumed that people seek information with the goal of improving all three. But are they successful at achieving this goal? Answering this question is important for assessing the impact of self-driven information consumption on people's well-being. Here, over five experiments (total N = 727) we show that participants accurately predict the impact of information on their internal states (e.g., affect and cognition) and external outcomes (e.g., material rewards), and use these predictions to guide information-seeking choices. A model incorporating participants' subjective expectations regarding the impact of information on their affective, cognitive, and material outcomes accounted for information-seeking choices better than a model that included only objective proxies of those measures. This model also accounted for individual differences in information-seeking choices. By balancing considerations of the impact of information on affective, cognitive and material outcomes when seeking knowledge, participants became happier, more certain and made better decisions when they sought information relative to when they did not, suggesting that the actual consequences of receiving information aligned with their subjective expectations.