Revealed Preference, Rational Inattention, and Costly Information Acquisition
开发了一个显示偏好检验，用于判断选择错误在多大程度上源于非理性，而非理性权衡信息获取成本与学习收益，并识别从选择数据中恢复信息成本的程度。
Apparently mistaken decisions are ubiquitous. To what extent does this reflect irrationality, as opposed to a rational trade-off between the costs of information acquisition and the expected benefits of learning? We develop a revealed preference test that characterizes all patterns of choice “mistakes” consistent with a general model of optimal costly information acquisition and identify the extent to which information costs can be recovered from choice data.