Název:
Discrete actions in information-constrained tracking problems
Autoři:
Matějka, Filip ; Sims, CH. A. Typ dokumentu: Výzkumné zprávy
Rok:
2011
Jazyk:
eng
Edice: CERGE-EI Working Paper Series, svazek: 441
Abstrakt: Optimal actions of an agent facing a Shannon capacity constraint on the translation of an uncertain signal into an action can easily turn out to be discretely distributed, even when the objective function and the initial distribution of uncertainty contain no discrete elements. We show this result analytically in a broad class of cases.
Klíčová slova:
adjustment frictions; rational inattention; sticky prices Číslo projektu: CEZ:AV0Z70850503 (CEP), LC542 (CEP) Poskytovatel projektu: GA MŠk