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Dynamically Aggregating Diverse Information

delete2022-01-01
delete9
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OA
AI
A
Annie Liang *
X
Xiaosheng Mu
V
Vasilis Syrgkanis
DOI:10.3982/ECTA18324delete
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Abstract

Abstract

En 中文
An agent has access to multiple information sources, each modeled as a Brownian motion whose drift provides information about a different component of an unknown Gaussian state. Information is acquired continuously-where the agent chooses both which sources to sample from, and also how to allocate attention across them-until an endogenously chosen time, at which point a decision is taken. We demonstrate conditions on the agent's prior belief under which it is possible to exactly characterize the optimal information acquisition strategy. We then apply this characterization to derive new results regarding: (1) endogenous information acquisition for binary choice, (2) the dynamic consequences of attention manipulation, and (3) strategic information provision by biased news sources.
Keywords:
Information acquisition
dynamic Blackwell
binary choice

Journal

Econometrica cover
Econometrica
IF:
7.1
Papers:
3.0K
Citations:
4.3W

Organization

P
Princeton University
Scholars:
2.1W
Papers: 2.3W
Citations: 5.1W
M
Microsoft
Scholars:
3.0K
Papers: 2.7K
Citations: 7
N
Northwestern University
Scholars:
6.2W
Papers: 5.3W
Citations: 3.9K
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Cited Papers

Cited Papers

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Optimal Dynamic Allocation of Attention
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Structure of the C-Terminal Domain of Human La Protein Reveals a Novel RNA Recognition Motif Coupled to a Helical Nuclear Retention Element
err2003-07-01
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errAmanda Jacks; Jeff Babon; Geoff Kelly; Ioannis Manolaridis; Peter D Cary; Stephen Curry; Maria R Conte
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Speed, Accuracy, and the Optimal Timing of Choices
err2018-12-01
err91
errOAAI
errFudenberg, Drew; Strack, Philipp; Strzalecki, Tomasz
errShare
errSave
researcher View more