Noisy Memory and Over-Reaction to News
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We propose a model of optimal decision making subject to a memory constraint. The constraint is a limit on the complexity of memory measured using Shannons mutual information, as in models of rational inattention; but our theory differs from that of Sims (2003) in not assuming costless memory of
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美国国家经济研究局创建时间：
2019-01-01
