| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26415 |
| 来源ID | Working Paper 26415 |
| Rational Inattention when Decisions Take Time | |
| Benjamin M. Hébert; Michael Woodford | |
| 发表日期 | 2019-10-28 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | Decisions take time, and the time taken to reach a decision is likely to be informative about the cost of more precise judgments. We formalize this insight in the context of a dynamic model of optimal evidence accumulation. We provide conditions under which the resulting belief dynamics resemble either diffusion processes or processes with large jumps. We then demonstrate that the state-contingent choice probabilities predicted by our model are identical to those predicted by a static rational inattention model, providing a micro-foundation for such models. In the diffusion case, our model provides a normative foundation for a variant of the drift-diffusion model from mathematical psychology. |
| 主题 | Microeconomics ; Economics of Information |
| URL | https://www.nber.org/papers/w26415 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/584089 |
| 推荐引用方式 GB/T 7714 | Benjamin M. Hébert,Michael Woodford. Rational Inattention when Decisions Take Time. 2019. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w26415.pdf（623KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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