Rational inattention
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Revision as of 05:19, 7 March 2021 by imported>JMinHep (simplify)
In economics, the theory of rational inattention deals with the effects of the cost of information acquisition on decision making. For example, when the information required for a decision is costly to acquire, the decision makers may rationally take decisions based on incomplete information, rather than incurring the cost to get the complete information.[1][2]
See also
- Behavioral economics
- Christopher Sims
- Rationality
- Value of information
References
![]() | Original source: https://en.wikipedia.org/wiki/Rational inattention.
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