We introduce a simple method of recovering attention costs from choice data. Our method rests on a precise analogy with production theory. Costs of attention determine consumer demand and consumer welfare just as a competitive firm's technology determines its supply curve and profits. We...

How significant are individual differences in self-control? Do these differences impact wealth accumulation? From where do they derive? Our survey-based measure of self-control provides insights into all three questions: 1.There are individual differences in self-control not only of a...

Costs of attention, while central to choice behavior, have proven hard to measure. We introduce a simple method of recovering them from choice data. Our recovery method rests on the observation that costs of attention play precisely the same role in consumer choice as do a competitive firm's...

This article presents a selective review of economic research on attentional choice, taking an observation of Block & Marschak (1960) as its starting point. Because standard choice data conflate utilities and perception, they point out that it is inadequate for research in which attention is...

Incentivized experiments are commonly used to estimate marginal rate of intertemporal substitution (MRS) in the lab and in the field, and to make inferences about subject’s time preference. This paper considers the implications of an integrated model of behavior in which individuals are...

Incentivized experiments are commonly used to estimate marginal rates of intertemporal substitution (MRS) in the lab and in the field in order to make inferences about individual time preferences. This paper considers an integrated model of behavior in which individuals are subject to financial...