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[11月17日] 数字金融workshop

发布日期:2020-11-16 11:21    来源:

时间:11月17日12:30 - 14:00

地点:万众楼小教室

主讲人:徐志豪 北京大学国家发展研究院硕士研究生 

分享文献:

Che, Y. K., & Mierendorff, K. (2019). Optimal dynamic allocation of attention. American Economic Review, 109(8), 2993-3029.

论文摘要:

We consider a decision maker (DM) who, before taking an action, seeks information by allocating her limited attention dynamically over different news sources that are biased toward alternative actions. Endogenous choice of information generates rich dynamics: the chosen news source either reinforces or weakens the prior, shaping subsequent attention choices, belief updating, and the final action. The DM adopts a learning strategy biased toward the current belief when the belief is extreme and against that belief when it is moderate. Applied to consumption of news media, observed behavior exhibits an "echo-chamber" effect for partisan voters and a novel "anti-echo-chamber" effect for moderates.