-contingent consequences. In a menu choice setting, we study an axiomatic model of decision making with scarce attention. A decision maker … satisfying our axioms acts as if she chooses a joint distribution over a product space of states and signals. The decision maker … scarcity from choice behavior, and thereby clarify the decision theoretic foundations of rational inattention models proposed …

preferences. Among the behavioral patterns that allow for a clear-cut interpretation on the decision level, we find that roughly …