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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- Xavier Gabaix & David Laibson, 2002.
"The 6D Bias and the Equity-Premium Puzzle,"
NBER Chapters,in: NBER Macroeconomics Annual 2001, Volume 16, pages 257-330
National Bureau of Economic Research, Inc.
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- 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.
- Rosen, Sherwin, 1981. "The Economics of Superstars," American Economic Review, American Economic Association, vol. 71(5), pages 845-858, December.
- Andrew Graham, 2001. "The Assessment: Economics of the Internet," Oxford Review of Economic Policy, Oxford University Press, vol. 17(2), pages 145-158, Summer. Full references (including those not matched with items on IDEAS)
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