May 1, 2019 · We model this decision using the rational inattention approach and describe the rationally inattentive consumer's choice behavior when the consumer faces ...
In this section, we develop the choice model for a rationally inattentive consumer with different information costs across different products. The general ...
We model this decision using the rational inattention approach and describe the rationally inattentive consumer's choice behavior when she faces alternatives ...
Consumers often do not have complete information about the choices they face and, therefore, have to spend time and effort acquiring information.
Oct 4, 2016 · Consumers often do not have complete information about the choices they face and therefore have to spend time and effort in acquiring ...
We find that non-uniform information costs can have a strong impact on product choice, which gets particularly conspicuous when the product alternatives are ...
There are significant implications on how a seller should provide information about its products and how changes to the product set impacts consumer choice.
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May 1, 2019 · For example, nonuniform information costs can lead to situations in which it is disadvantageous for the seller to provide easier access to ...
Consumer Choice Under Limited Attention When Alternatives Have Different Information Costs. Consumers often do not have complete information about the choices ...
Jul 25, 2024 · In this erratum, we point out the error and provide a correction based on Walker-Jones [(2023) Rational inattention with multiple attributes. J.