OPTIMAL DYNAMIC INFORMATION ACQUISITION

I study a dynamic model in which a decision-maker (DM) acquires information about the payoffs of different alternatives prior to making a decision. The model’s key feature is the flexibility of information: the DM can choose any dynamic signal process as an information source, subject to a flow cost...

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Bibliographic Details
Published in:Econometrica 2022-07, Vol.90 (4), p.1537-1582
Main Author: Zhong, Weijie
Format: Article
Language:English
Subjects:
Decision making
Dynamic information acquisition
Flexibility
Information
Poisson process
rational inattention
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