In economics, the theory of '''rational inattention''' deals with the effects of the cost of information acquisition on decision making. For example, when the information required for a decision is costly to acquire, the decision makers may rationally take decisions based on incomplete information, rather than incurring the cost to get the complete information.<ref>Sims, C.A., 2003. Implications of rational inattention. Journal of monetary Economics, 50(3), pp.665-690.</ref><ref>Sims, C.A., 2010. Rational inattention and monetary economics. Handbook of Monetary Economics, 3, pp.155-181.</ref>
== See also == * Behavioral economics * Christopher Sims * Rationality * Value of information
* Rational ignorance<br /> ==References== {{Reflist}}
Category:Economic theories Category:Decision-making