Costs of attention, while central to choice behavior, have proven hard to measure. We introduce a simple method of recovering them from choice data. Our recovery method rests on the observation that costs of attention play precisely the same role in consumer choice as do a competitive firm's...

We introduce a simple method of recovering attention costs from choice data. Our method rests on a precise analogy with production theory. Costs of attention determine consumer demand and consumer welfare just as a competitive firm's technology determines its supply curve and profits. We...

The model of rational inattention with Shannon mutual information costs is increasingly ubiquitous. We introduce a new solution method that lays bare the general behavioral properties of this model and liberates development of alternative models. We experimentally test a key behavioral property...

Series Introduction. Volume Introduction. PART I: SETTING THE STAGE. 1. The Case for Mindless Economics, Faruk Gul and Wolfgang Pesendorfer. 2. The Case for Mindful Economics, Colin Camerer. 3. Whats So Informative about Choice?, Andrew Schotter. 4. On Two Points of View Regarding Revealed...