Costly Information Acquisition
41 Pages Posted: 13 Apr 2017 Last revised: 20 Dec 2019
Date Written: February 1, 2018
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.
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