Costly information acquisition: Experimental analysis of a boundedly rational model
Costly information acquisition: Experimental analysis of a boundedly rational model
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DOI：
10.1257/aer.96.4.1043
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发表时间：
2006-09-01
影响因子：
10.7
通讯作者：
Weinberg, Stephen
中科院分区：
文献类型：
--
作者：
Gabaix, Xavier;Laibson, David;Weinberg, Stephen
定向认知模型假设智能体使用部分近视的选择值计算来选择下一个认知操作。本文通过两个实验研究了信息获取，对该模型进行了验证。在第一个实验中，信息获取具有显性财务成本。在第二个实验中，信息获取的成本很高，因为时间有限。在这些实验中，定向认知模型成功地预测了聚合信息获取模式。当有向认知模型和完全理性模型的预测结果明显不同时，有向认知模型更符合实验证据。
The directed cognition model assumes that agents use partially myopic option-value calculations to select their next cognitive operation. The current paper tests this model by studying information acquisition in two experiments. In the first experiment, information acquisition has an explicit financial cost. In the second experiment, information acquisition is costly because time is scarce. The directed cognition model successfully predicts aggregate information acquisition patterns in these experiments. When the directed cognition model and the fully rational model make demonstrably different predictions, the directed cognition model better matches the laboratory evidence.