Project Overview:

We use the "ignorance equivalent" approach to Rational Inattention [Müller-Itten et al, 2024] that equates access to learning with a larger menu of fictitious payoffs. Building on these insights, the project aims to shed light on the interplay between preference traits and learning behavior. The main objectives are:

• Develop numeric algorithms that efficiently determine the optimal rational inattentive choice for a range of learning cost functions.
• Use these algorithms to simulate the behavioral impact of different cost functions in concrete settings, and compare it with documented patterns of behavior.
• Design and deploy an experimental protocol that allows us to measure perceived learning costs.
• Implement the protocol in several choice experiments (both online and in the lab) to identify key features that drive the cost of learning.
• Experimentally compare perceived versus experienced learning costs to uncover potential biases.
• Identify how risk attitudes shape the agent’s incentives to learn.

What to expect as a PhD student on this project:

• You will conduct innovative and high-quality research on Rational Inattention and costly learning.
• You will have time dedicated to advancing your own independent research agenda.
• You will actively contribute to the project’s research activities, from developing theory, coding and/or experiments to the drafting and publishing of academic papers.
• You will support the teaching initiatives of the team and contribute to the organization of occasional workshops.
• You will be part of a vibrant research community in the institute and the department. You are expected to attend seminars, provide feedback on other’s research, and contribute to the preparation of grant proposals.
• The position is based in the beautiful city of St.Gallen, Switzerland,and requires regular presence at the department.

• A master degree (completed or near completion) in Economics or Mathematics, with a strong background in experimental economics, numerical methods and/or economic theory.
• Enthusiasm and ambition for conducting high-quality research.
• Hands-on experience with designing and running experiments (lab, online, or field) is highly desirable.
• Ability to work independently, think creatively and contribute collaboratively in a dynamic team environment.
• Effective written and verbal English-language communication and time management skills.

How to apply:

Applications should include a cover letter, two letters of reference, a curriculum vitae, and copies of grade transcripts and certificates (see also https://www.unisg.ch/en/studying/admission/admission-phd/economics-and-econometrics/).
In the cover letter, briefly describe your research interests, your motivation for joining the project, and how your background fits the position. If you have any academic publications or working papers, please include a copy with your application. Please arrange for two letters of recommendation to be sent directly to Prof. Dr. Michèle Müller-Itten at michele.mueller-itten@unisg.ch.

Application Deadline:

Review of applications will start immediately and continue until the position is
filled. For further information about this position, please contact Prof. Michèle
Müller-Itten (michele.mueller-itten@unisg.ch).