Rational Inattention and Perceptual Distance

• Tác giả: David Walker-Jones
• Ngôn ngữ: eng
• Ký hiệu phân loại: 155.4137 Child psychology
• Thông tin xuất bản: 2019
• Bộ sưu tập: Metadata
• ID: 163300

Tóm tắt

This paper uses an axiomatic foundation to create a new measure for the cost of learning that allows for multiple perceptual distances in a single choice environment so that some events can be harder to differentiate between than others. The new measure maintains the tractability of Shannon's classic measure but produces richer choice predictions and identifies a new form of informational bias significant for welfare and counterfactual analysis.