Rational inattention in games: experimental evidence
通过买方-卖方博弈实验,研究买方注意力是否对战略激励做出理性反应。发现卖方定价策略变化时,买方会调整注意力以减少错误,但标准理性疏忽模型无法完全解释该行为。
Abstract To investigate whether attention responds rationally to strategic incentives, we experimentally implement a buyer-seller game in which a fully informed seller makes a take-it-or-leave-it offer to a buyer who faces cognitive costs to process information about the offer's value. We isolate the impact of seller strategies on buyer attention by exogenously varying the seller's outside option, which leads sellers to price high more often. We find that buyers respond by making fewer mistakes conditional on value, which suggests that buyers exert higher attentional effort in response to the increased strategic incentives for paying attention. We show that a standard model of rational inattention based on Shannon mutual information cannot fully explain this change in buyer behavior. However, we identify another class of rational inattention models consistent with this behavioral pattern.