摘要翻译:
本文建立了离散选择模型与理性注意力不集中模型的一般等价性。Matejka和McKay(2015,AER)表明,当信息成本使用香农熵函数建模时,理性不注意模型中的选择概率呈多项式logit形式。利用离散选择模型的凸解析性质,我们证明了当信息成本用一类广义熵函数建模时,任何有理不注意模型中的选择概率与某些加性随机效用离散选择模型中的选择概率观测等价,反之亦然。因此,任何可加性随机效用模型都可以用有界理性行为来解释。这包括与经验相关的规范,如probit和嵌套logit模型。
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英文标题:
《Discrete Choice and Rational Inattention: a General Equivalence Result》
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作者:
Mogens Fosgerau and Emerson Melo and Andre de Palma and Matthew Shum
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最新提交年份:
2017
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分类信息:
一级分类:Economics 经济学
二级分类:Econometrics 计量经济学
分类描述:Econometric Theory, Micro-Econometrics, Macro-Econometrics, Empirical Content of Economic Relations discovered via New Methods, Methodological Aspects of the Application of Statistical Inference to Economic Data.
计量经济学理论,微观计量经济学,宏观计量经济学,通过新方法发现的经济关系的实证内容,统计推论应用于经济数据的方法论方面。
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一级分类:Computer Science 计算机科学
二级分类:Information Theory 信息论
分类描述:Covers theoretical and experimental aspects of information theory and coding. Includes material in ACM Subject Class E.4 and intersects with H.1.1.
涵盖信息论和编码的理论和实验方面。包括ACM学科类E.4中的材料,并与H.1.1有交集。
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一级分类:Mathematics 数学
二级分类:Information Theory 信息论
分类描述:math.IT is an alias for cs.IT. Covers theoretical and experimental aspects of information theory and coding.
它是cs.it的别名。涵盖信息论和编码的理论和实验方面。
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一级分类:Statistics 统计学
二级分类:Applications 应用程序
分类描述:Biology, Education, Epidemiology, Engineering, Environmental Sciences, Medical, Physical Sciences, Quality Control, Social Sciences
生物学,教育学,流行病学,工程学,环境科学,医学,物理科学,质量控制,社会科学
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英文摘要:
This paper establishes a general equivalence between discrete choice and rational inattention models. Matejka and McKay (2015, AER) showed that when information costs are modelled using the Shannon entropy function, the resulting choice probabilities in the rational inattention model take the multinomial logit form. By exploiting convex-analytic properties of the discrete choice model, we show that when information costs are modelled using a class of generalized entropy functions, the choice probabilities in any rational inattention model are observationally equivalent to some additive random utility discrete choice model and vice versa. Thus any additive random utility model can be given an interpretation in terms of boundedly rational behavior. This includes empirically relevant specifications such as the probit and nested logit models.
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PDF链接:
https://arxiv.org/pdf/1709.09117