We review the recent literature on rational inattention, identify the main theoretical
mechanisms, and explain how it helps us understand a variety of phenomena across fields …

Despite the seemingly low switching and search costs of on-demand labor markets like
Amazon Mechanical Turk, we find substantial monopsony power, as measured by the …

We use laboratory experiments to test models of rational inattention, in which people acquire
information to maximize utility net of information costs. We show that subjects adjust their …

We develop a theory of how an agent makes basic multiproduct consumption decisions in
the presence of taste, consumption opportunity, and price shocks that are costly to attend to …

Context-dependent individual choice challenges the principle of utility maximization. I
explain context dependence as the optimal response of an imperfectly informed agent to the …

This paper presents a novel deep learning-based travel behaviour choice model. Our
proposed Residual Logit (ResLogit) model formulation seamlessly integrates a Deep Neural …

The conventional discrete-choice model of demand assumes that consumers are fully
informed about every available product alternative. This assumption is at odds with the large …

We propose a new principle for measuring the cost of information structures in rational
inattention problems, based on the cost of generating the information used to make a …

Abstract Information is critical for migration decisions. Yet, depending on where individuals
reside and who they interact with, they may face different costs of accessing information …

An agent acquires a costly flexible signal before making a decision. We explore to what
degree knowledge of the agent's information costs helps predict her behavior. We establish …