start-ver=1.4
cd-journal=joma
no-vol=226
cd-vols=
no-issue=
article-no=
start-page=105997
end-page=
dt-received=
dt-revised=
dt-accepted=
dt-pub-year=2025
dt-pub=202505
dt-online=
en-article=
kn-article=
en-subject=
kn-subject=
en-title=
kn-title=Costly subjective learning
en-subtitle=
kn-subtitle=
en-abstract=
kn-abstract=We examine the behavioral foundation of rational inattention within a menu-choice framework. Unlike previous studies, our approach enables the unique identification of nonadditive information costs. The nonadditivity of information costs makes the effective cost inherently dependent on benefits of information. In contrast to additive cost models, this feature may lead to a violation of the preference for early resolution of menu uncertainty. Early resolution is typically preferable as it allows the agent to fine-tune information for relevant menus. However, if the effective cost function is convex in benefits of information, late resolution may reduce the effective information costs. The violation occurs when this cost-reduction effect outweighs the benefits of early resolution.
en-copyright=
kn-copyright=

en-aut-name=HigashiYouichiro
en-aut-sei=Higashi
en-aut-mei=Youichiro
kn-aut-name=
kn-aut-sei=
kn-aut-mei=
aut-affil-num=1
ORCID=

en-aut-name=HyogoKazuya
en-aut-sei=Hyogo
en-aut-mei=Kazuya
kn-aut-name=
kn-aut-sei=
kn-aut-mei=
aut-affil-num=2
ORCID=

en-aut-name=TakeokaNorio
en-aut-sei=Takeoka
en-aut-mei=Norio
kn-aut-name=
kn-aut-sei=
kn-aut-mei=
aut-affil-num=3
ORCID=

affil-num=1
en-affil=Faculty of Economics, Okayama University
kn-affil=

affil-num=2
en-affil=Faculty of Economics, Ryukoku University
kn-affil=

affil-num=3
en-affil=Department of Economics, Hitotsubashi University
kn-affil=
en-keyword=Information acquisition
kn-keyword=Information acquisition
en-keyword=Rational inattention
kn-keyword=Rational inattention
en-keyword=Preference for the timing of the resolution of uncertainty
kn-keyword=Preference for the timing of the resolution of uncertainty
en-keyword=Preference over menus
kn-keyword=Preference over menus
END