Constrained versus Unconstrained Rational Inattention
The rational inattention literature is split between two versions of the model: in one, mutual information of states and signals are bounded by a hard constraint, while, in the other, it appears as an additive term in the decision maker’s utility function. The resulting constrained and unconstrained...
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-01-01
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| Series: | Games |
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| Online Access: | https://www.mdpi.com/2073-4336/12/1/3 |