000			01099nam a22001457a 4500
999			_c521846 _d521846
008			230228b ||||| |||| 00| 0 eng d
100			_aDenti, Tommaso _937766
245			_aPosterior separable cost of information
260			_aThe American Economic Review
300			_a112(10), Oct, 2022: p.3215-3259
520			_aWe provide testable conditions under which the cost of acquiring information is given by the expected reduction of a measure of uncertainty (e.g., entropy). The assumption, under the name of posterior separability, is nearly universal in the literature of rational inattention; yet, a testable characterization has been lacking. In applications to experimental data, we indicate situations in which posterior separability is—and is not—a compelling assumption for the cost of information; we propose a generalization to address some of its shortcomings. We also show how to identify and estimate nonparametrically the cost of information from observable choice behavior. – Reproduced
773			_aThe American Economic Review
906			_aECONOMICS
942			_cAR