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来源类型Working Paper
规范类型报告
DOI10.3386/w23652
来源IDWorking Paper 23652
Rationally Inattentive Behavior: Characterizing and Generalizing Shannon Entropy
Andrew Caplin; Mark Dean; John Leahy
发表日期2017-08-07
出版年2017
语种英语
摘要We provide a full behavioral characterization of the standard Shannon model of rational inattention. The key axiom is "Invariance under Compression", which identifies this model as capturing an ideal form of attention-constrained choice. We introduce tractable generalizations that allow for many of the known behavioral violations from this ideal, including asymmetries and complementarities in learning, context effects, and low responsiveness to incentives. We provide an even more general method of recovering attention costs from behavioral data. The data set in which we characterize all behavioral patterns is "state dependent" stochastic choice data.
主题Microeconomics ; Economics of Information
URLhttps://www.nber.org/papers/w23652
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/581326
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GB/T 7714
Andrew Caplin,Mark Dean,John Leahy. Rationally Inattentive Behavior: Characterizing and Generalizing Shannon Entropy. 2017.
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