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decision maker's prior information to be asymmetric across choices. In this paper, I solve the RI-logit model analytically for …, decision makers can be biased, display aversion to prior uncertainty, and thus tend to select choices that are familiar (i …
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inattentive preferences and show how they reveal the amount of information a decision-maker acquires. …
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We show what the rational inattention model predicts about the treatment effect of information provided during a randomized control trial. This is a non-trivial question because the model implies optimal attention choice before, during, and after an information treatment. The predictions of the...
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information a decision maker can acquire, pay attention to, or absorb via an information choice process (ICP). An ICP specifies …
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