Experimental Tests of Rational Inattention
通过实验室实验检验理性忽视模型,发现被试会根据激励调整注意力,但数据不支持香农熵线性信息成本,而更符合更灵活的广义模型。
We use laboratory experiments to test models of rational inattention, in which people acquire information to maximize utility net of information costs. We show that subjects adjust their attention in response to changes in incentives, in line with the rational inattention model. However, our results are qualitatively inconsistent with information costs that are linear in Shannon entropy, as is often assumed in applied work. Our data are best fit by a generalization of the Shannon model, which allows for a more flexible response to incentives and for some states of the world to be harder to distinguish than others.