Costly information acquisition

Christopher P. Chambers, Ce Liu, John Rehbeck

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. Previous article in issue Next article in issue JEL classification D01 D80