Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/197200 
Erscheinungsjahr: 
2017
Quellenangabe: 
[Journal:] Theoretical Economics [ISSN:] 1555-7561 [Volume:] 12 [Issue:] 2 [Publisher:] The Econometric Society [Place:] New Haven, CT [Year:] 2017 [Pages:] 621-654
Verlag: 
The Econometric Society, New Haven, CT
Zusammenfassung: 
We show how information acquisition costs can be identified using observable choice data. Identifying information costs from behavior is especially relevant when these costs depend on factors-such as time, effort, and cognitive resources-that are difficult to observe directly, as in models of rational inattention. Using willingness-to-pay data for opportunity sets-which require more or less information to make choices-we establish a set of canonical properties that are necessary and sufficient to identify information costs. We also provide an axiomatic characterization of the induced rationally inattentive preferences and show how they reveal the amount of information a decision-maker acquires.
Schlagwörter: 
Information costs
Blackwell order
information acquisition
menu choice
rational inattention
JEL: 
D81
D83
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