In a dynamic choice environment, an agent's tastes may change over time, leading to a conflict between plans made today and choices made in the future. In response, a consistent planner restricts herself to plans that she will actually follow, by anticipating today how she will rank continuation...

When an economic agent makes a choice, stochastic models predicting those choices can be updated. The structural assumptions embedded in the prior model condition the updated one, to the extent that the same evidence produces different predictions even when previous ones were identical. We...

This paper develops a decision-theoretic framework to study rational inattention (Sims [1998, 2003]). We provide an axiomatic characterization that relates rationally inattentive behavior to attitudes towards flexibility (Kreps [1979]) and temporal resolution of uncertainty (Kreps and Porteus...