Costly Information Acquisition

41 Pages Posted: 13 Apr 2017 Last revised: 20 Dec 2019

See all articles by Christopher Chambers

Christopher Chambers

University of California, San Diego (UCSD) - Department of Economics

Ce Liu

University of California, San Diego (UCSD) - Department of Economics

John Rehbeck

Ohio State University (OSU) - Economics

Date Written: February 1, 2018

Abstract

We provide revealed preference characterizations for choices made under various forms of costly information acquisition. We examine nonseparable, multiplicative, and constrained costly information acquisition. In particular, this allows the possibility of unknown time delay for acquiring information. The techniques we use parallel the duality properties in the standard consumer problem.

Suggested Citation

Chambers, Christopher and Liu, Ce and Rehbeck, John, Costly Information Acquisition (February 1, 2018). Available at SSRN: https://ssrn.com/abstract=2951887 or http://dx.doi.org/10.2139/ssrn.2951887

Christopher Chambers

University of California, San Diego (UCSD) - Department of Economics ( email )

9500 Gilman Drive
La Jolla, CA 92093-0508
United States

Ce Liu

University of California, San Diego (UCSD) - Department of Economics ( email )

9500 Gilman Drive
La Jolla, CA 92093-0508
United States

John Rehbeck (Contact Author)

Ohio State University (OSU) - Economics ( email )

410 Arps Hall
1945 N. High St.
Columbus, OH 43210-1172
United States

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