Information Choice Technologies
Theories based on information costs or frictions have become increasing popular in macroeconomics and macro-finance. The literature has used various types of information choices, such as rational inattention, inattentiveness, information markets and costly precision. Using a unified framework, we compare these different information choice technologies and explain why some generate increasing returns and others, particularly those where agents choose how much public information to observe, generate multiple equilibria. The results can help applied theorists to choose the appropriate information choice technology for their application and to understand the consequences of that modeling choice.
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Volume (Year): 102 (2012)
Issue (Month): 3 (May)
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- Laura Veldkamp & Christian Hellwig, 2006.
"Knowing What Others Know: Coordination Motives in Information Acquisition,"
06-14, New York University, Leonard N. Stern School of Business, Department of Economics.
- Christian Hellwig & Laura Veldkamp, 2009. "Knowing What Others Know: Coordination Motives in Information Acquisition," Review of Economic Studies, Oxford University Press, vol. 76(1), pages 223-251.
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- Christian Hellwig & Laura Veldkamp, 2006. "Knowing what others Know: Coordination motives in information acquisition," 2006 Meeting Papers 361, Society for Economic Dynamics.
- Laura L. Veldkamp, 2011. "Information Choice in Macroeconomics and Finance," Economics Books, Princeton University Press, edition 1, number 9621, 01-2013.
- Laura L. Veldkamp, 2006.
"Media Frenzies in Markets for Financial Information,"
American Economic Review,
American Economic Association, vol. 96(3), pages 577-601, June.
- Laura Veldkamp, 2004. "Media Frenzies in Markets for Financial Information," Econometric Society 2004 North American Winter Meetings 4, Econometric Society.
- Laura Veldkamp, 2003. "Media Frenzies in Markets for Financial Information," Working Papers 03-20, New York University, Leonard N. Stern School of Business, Department of Economics.
- Filip Matejka, 2010.
"Rationally Inattentive Seller: Sales and Discrete Pricing,"
CERGE-EI Working Papers
wp408, The Center for Economic Research and Graduate Education - Economics Institute, Prague.
- Filip Matejka, 2010. "Rationally Inattentive Seller: Sales and Discrete Pricing," 2010 Meeting Papers 420, Society for Economic Dynamics.
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