Journal
JOURNAL OF ECONOMIC THEORY
Volume 133, Issue 1, Pages 266-294Publisher
ACADEMIC PRESS INC ELSEVIER SCIENCE
DOI: 10.1016/j.jet.2005.12.001
Keywords
scarcity of attention; attention seeking; local and global diversity; attention capacity; allocation of audiences
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A new theoretical model is developed which describes the 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 firms (senders) with their radiation technology. The endogenous variables explained by the theory are equilibrium audiences (the clients belonging to a sender), their signal exposure and attention, and the diversity of senders surviving the contest for attention. Application of the equilibrium analysis suggests that international integration or progress in information technologies tend to decrease global diversity. Local diversity, perceived by the individual receivers, may increase nonetheless. (c) 2005 Elsevier Inc. All rights reserved.
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