Information Choice Technologies

Hellwig, Christian, Kohls, Sebastian and Veldkamp, Laura (2012) Information Choice Technologies. American Economic Review (AER), 102 (n°3). pp. 35-40.

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Official URL: http://tse-fr.eu/pub/30587

Abstract

Theories based on information costs or frictions have become increasing popular in macroeconomics and macro-finance. The literature has used various types of information choices, such as rational inattention, inattentiveness, information markets and costly precision. Using a unified framework, we compare these different information choice technologies and explain why some generate increasing returns and others, particularly those where agents choose how much public information to observe, generate multiple equilibria. The results can help applied theorists to choose the appropriate information choice technology for their application and to understand the consequences of that modeling choice.

Item Type: Article
Language: English
Date: May 2012
Refereed: Yes
JEL codes: D11 - Consumer Economics - Theory
D81 - Criteria for Decision-Making under Risk and Uncertainty
D83 - Search; Learning; Information and Knowledge; Communication; Belief
Subjects: B- ECONOMIE ET FINANCE
Divisions: TSE-R (Toulouse)
Site: UT1
Date Deposited: 25 Aug 2016 09:25
Last Modified: 07 Mar 2018 13:23
OAI ID: oai:tse-fr.eu:30587
URI: http://publications.ut-capitole.fr/id/eprint/22256

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