An agent has access to multiple information sources, each of which provides information about a different attribute of an unknown state. Information is acquired continuously \textemdash where the agent chooses both which sources to sample from, and also how to allocate attention across them \textemdash until an endogenously chosen time, at which point a decision is taken. We provide an exact characterization of the optimal information acquisition strategy for settings where the attributes are not too strongly correlated . We then apply this characterization to derive new results regarding: (1) endogenous information acquisition for binary choice, and (2) strategic information provision by competing news sources .
An agent has access to multiple information sources, each of which provides information about a different attribute of an unknown state. Information is acquired continuously -- where the agent chooses both which sources to sample from, and also how to allocate attention across them -- until an endogenously chosen time, at which point a decision is taken. We provide an exact characterization of the optimal information acquisition strategy under weak conditions on the agent's prior belief about the different attributes . We then apply this characterization to derive new results regarding: (1) endogenous information acquisition for binary choice, (2) strategic information provision by biased news sources, and (3) the dynamic consequences of attention manipulation .
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for settings where the attributes are not too strongly correlated
under weak conditions on the agent's prior belief about the different attributes
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competing news sources
biased news sources, and (3) the dynamic consequences of attention manipulation