RATIONAL INATTENTION, COMPETITIVE SUPPLY, AND PSYCHOMETRICS

• 成果类型: Article
• 署名作者: Caplin, Andrew; Csaba, Daniel; Leahy, John; Nov, Oded
• 署名单位: New York University; University of Michigan System; University of Michigan
• 刊物名称: QUARTERLY JOURNAL OF ECONOMICS
• ISSN/ISSBN: 0033-5533
• DOI: 10.1093/qje/qjaa011
• 发表日期: 2020
• 页码: 1681-1724
• 关键词: information; CHOICE; PRODUCTIVITY; frictions; SALIENCE; attention; pollution

摘要

We introduce a simple method of recovering attention costs from choice data. Our method rests on a precise analogy with production theory. Costs of attention determine consumer demand and consumer welfare, just as a competitive firm's technology determines its supply curve and profits. We implement our recovery method experimentally, outline applications, and link our work to the broader literature on inattention and mistaken decisions.