Attention and choices with multiple states and actions: A laboratory experiment

Andrea Civelli (), Cary Deck () and Antonella Tutino

Journal of Economic Behavior & Organization, 2022, vol. 199, issue C, 86-102

Abstract: We study how a rationally inattentive decision maker chooses state-contingent actions under uncertainty in complex environments. We explore a series of decision problems by varying the number of states as well as incentive structures. We fully characterize the theoretical solutions and compare them to choices made by subjects facing those problems in a controlled laboratory experiment.

Keywords: Rational inattention; Laboratory experiment; Information processing capacity (search for similar items in EconPapers)
JEL-codes: C91 D11 D8 E20 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:199:y:2022:i:c:p:86-102

DOI: 10.1016/j.jebo.2022.05.013

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