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DISCRETE CHOICE AND RATIONAL INATTENTION: A GENERAL EQUIVALENCE RESULT

This article establishes a general equivalence between discrete choice and rational inattention models. Matějka and McKay (2015) showed that when information costs are modeled using the Shannon entropy, the choice probabilities in the rational inattention (RI) model take the multinomial logit form....

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Pubblicato in:Int Econ Rev (Philadelphia)
Autori principali: Fosgerau, Mogens, Melo, Emerson, de Palma, André, Shum, Matthew
Natura: Artigo
Lingua:Inglês
Pubblicazione: John Wiley and Sons Inc. 2020
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Accesso online:https://ncbi.nlm.nih.gov/pmc/articles/PMC7687267/
https://ncbi.nlm.nih.gov/pubmed/33288966
https://ncbi.nlm.nih.govhttp://dx.doi.org/10.1111/iere.12469
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