This paper studies the consumption decisions of agents who face costs of acquiring, absorbing and processing information. These consumers rationally choose to only sporadically update their information and re-compute their optimal consumption plans. In between updating dates, they remain...

Informational interventions have been shown to significantly change behavior across a variety of settings. Is that because they lead subjects to merely update beliefs in the right direction? Or, alternatively, is it to a large extent because they increase the salience of the decision they...