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On the Strategic Use of Attention Grabbers

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  • Eliaz, Kfir
  • Spiegler, Ran

Abstract

When a firm decides which products to offer or put on display, it takes into account the products' ability to attract attention to the brand name as a whole. Thus, the value of a product to the firm emanates from the consumer demand it directly meets, as well as the indirect demand it generates for the firms' other products. We explore this idea in the context of a stylized model of competition between media content providers (broadcast TV channels, internet portals, newspapers) over consumers with limited attention. We characterize the equilibrium use of products as attention grabbers and its implications for consumer conversion, industry profits and (mostly vertical) product differentiation.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7863.

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Date of creation: Jun 2010
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Handle: RePEc:cpr:ceprdp:7863

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Related research

Keywords: bounded rationality; consideration sets; conversion rate; irrelevant alternatives; limited attention; marketing; media platforms; persuasion; preferences over menus;

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References

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  1. Mark Armstrong, 2008. "Interactions between Competition and Consumer Policy," CPI Journal, Competition Policy International, vol. 4.
  2. Yusufcan Masatlioglu & Daisuke Nakajima & Erkut Ozbay, 2009. "Revealed Attention," NajEcon Working Paper Reviews 814577000000000409, www.najecon.org.
  3. Nakajima, Daisuke & Masatlioglu, Yusufcan, 2013. "Choice by iterative search," Theoretical Economics, Econometric Society, vol. 8(3), September.
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Cited by:
  1. Kaiser Karen & Schwabe Rainer, 2012. "Preference for Variety," The B.E. Journal of Theoretical Economics, De Gruyter, vol. 12(1), pages 1-32, January.
  2. Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2013. "Competition for Attention," NBER Working Papers 19076, National Bureau of Economic Research, Inc.
  3. Oktay Sürücü, 2013. "Welfare Improving Discrimination based on Cognitive Limitations," Working Papers 495, Bielefeld University, Center for Mathematical Economics.
  4. Manzini, Paola & Mariotti, Marco, 2012. "Stochastic Choice and Consideration Sets," IZA Discussion Papers 6905, Institute for the Study of Labor (IZA).
  5. Toru Suzuki, 2012. "Persuasive Silence," Jena Economic Research Papers 2012-014, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
  6. Paola Manzini & Marco Mariotti, 2014. "Competing for Attention: Is the Showiest also the Best?," Discussion Paper Series, Department of Economics 201403, Department of Economics, University of St. Andrews.
  7. Nakajima, Daisuke & Masatlioglu, Yusufcan, 2013. "Choice by iterative search," Theoretical Economics, Econometric Society, vol. 8(3), September.

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