| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w26743 |
| 来源ID | Working Paper 26743 |
| Neighborhood-Based Information Costs | |
| Benjamin M. Hébert; Michael Woodford | |
| 发表日期 | 2020-02-10 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We derive a new cost of information in rational inattention problems, the neighborhood-based cost functions, starting from the observation that many settings involve exogenous states with a topological structure. These cost functions are uniformly posterior-separable and capture notions of perceptual distance. This second property ensures that neighborhood-based costs, unlike mutual information, make accurate predictions about behavior in perceptual experiments. We compare the implications of our neighborhood-based cost functions with those of the mutual information in a series of applications: perceptual judgments; the general environment of binary choice; regime-change games; and linear-quadratic-Gaussian settings. |
| 主题 | Microeconomics ; Economics of Information ; Financial Economics ; Behavioral Finance |
| URL | https://www.nber.org/papers/w26743 |
| 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/584417 |
| 推荐引用方式 GB/T 7714 | Benjamin M. Hébert,Michael Woodford. Neighborhood-Based Information Costs. 2020. |
| 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 | ||
| w26743.pdf（1049KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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