Economists have studied for a long time how decision-makers allocate scarce resources. The recent literature on rational inattention studies how decision-makers allocate the scarce resource attention. The idea is that decision-makers have a limited amount of attention and have to decide how to...

It is shown that the proposal for a utility-weighted informational measure discussed by Belis, and Guiasu (Belis, M., S. Guiasu. 1968. A quantitative-qualitative measure of information in cybernetic systems. IEEE Trans. Information Theory 14 593--594.) and others can be formulated in terms of...