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Attention economies

  • Falkinger, Josef

Attracting attention is a basic feature of economic life but no standard economic problem. A new theoretical model is developed which describes the general structure of competition for attention and characterizes equilibria. The exogenous fundamentals of an attention economy are the space of receiving subjects with their attention capacity, and the potential set of competing companies (senders) with their radiation technologies. The endogenous variables explained by the theory are equilibrium audiences (the clients belonging to a company), their signal exposure and attention, and the diversity of senders surviving the contest for attention. Application of the equilibrium analysis to changes in information technologies and globalisation suggests that international integration or range-increasing technical progress may decrease global diversity. Local diversity, perceived by the individual receivers, may increase nonetheless.

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Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 133 (2007)
Issue (Month): 1 (March)
Pages: 266-294

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Handle: RePEc:eee:jetheo:v:133:y:2007:i:1:p:266-294
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622869

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  1. Nehring,K. und C.Puppe, 1999. "A Theory of Diversity," Discussion Paper Serie A 605, University of Bonn, Germany.
  2. Xavier Gabaix & David Laibson, 2002. "The 6D Bias and the Equity Premium Puzzle," Harvard Institute of Economic Research Working Papers 1947, Harvard - Institute of Economic Research.
  3. Shyam NMI Sunder & Matthew A. Cronin & Robert E. Kraut & James Morris & Rahul Telang, 2002. "Markets for Attention: Will Postage for Email Help?," Yale School of Management Working Papers ysm301, Yale School of Management.
  4. Hirshleifer, David & Teoh, Siew Hong, 2003. "Limited attention, information disclosure, and financial reporting," Journal of Accounting and Economics, Elsevier, vol. 36(1-3), pages 337-386, December.
  5. Rosen, Sherwin, 1981. "The Economics of Superstars," American Economic Review, American Economic Association, vol. 71(5), pages 845-58, December.
  6. Sherwin Rosen, 2002. "Markets and Diversity," American Economic Review, American Economic Association, vol. 92(1), pages 1-15, March.
  7. Andrew Graham, 2001. "The Assessment: Economics of the Internet," Oxford Review of Economic Policy, Oxford University Press, vol. 17(2), pages 145-158, Summer.
  8. Sims, Christopher A., 2003. "Implications of rational inattention," Journal of Monetary Economics, Elsevier, vol. 50(3), pages 665-690, April.
  9. Robert Kraut & Shyam Sunder & Rahul Telang & James Morris, 2005. "Pricing Electronic Mail to Solve the Problem of Spam," Yale School of Management Working Papers amz2638, Yale School of Management, revised 01 Oct 2005.
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