| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8626 |
| DP8626 Inattention to Rare Events | |
| Bartosz Mackowiak; Mirko Wiederholt | |
| 发表日期 | 2011-10-01 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Why were people so unprepared for the global financial crisis, the European debt crisis, and the Fukushima nuclear accident? To address this question, we study a model in which agents make state-contingent plans - think about actions in different contingencies - subject to the constraint that agents can process only a limited amount of information. The model predicts that agents are unprepared in a state when the state has a low probability, the optimal action in that state is uncorrelated with the optimal action in normal times, and actions are strategic complements. We then compare the equilibrium allocation of attention to the efficient allocation of attention. We characterize analytically the conditions under which society would be better off if agents thought more carefully about optimal actions in rare events. |
| 主题 | International Macroeconomics |
| 关键词 | Disasters Efficiency Rare events Rational inattention |
| URL | https://cepr.org/publications/dp8626 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/537461 |
| 推荐引用方式 GB/T 7714 | Bartosz Mackowiak,Mirko Wiederholt. DP8626 Inattention to Rare Events. 2011. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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