| Publikationstyp: | Beitrag in wissenschaftlicher Zeitschrift |
| Art der Begutachtung: | Peer review (Publikation) |
| Titel: | Limited attention, competition and welfare |
| Autor/-in: | Hefti, Andreas |
| DOI: | 10.1016/j.jet.2018.09.012 |
| Erschienen in: | Journal of Economic Theory |
| Band(Heft): | 178 |
| Seite(n): | 318 |
| Seiten bis: | 359 |
| Erscheinungsdatum: | Nov-2018 |
| Verlag / Hrsg. Institution: | Elsevier |
| ISSN: | 0022-0531 |
| Sprache: | Englisch |
| Schlagwörter: | Attention; Imperfect competition; Bounded rationality; Product differentiation; Salience; Contest theory |
| Fachgebiet (DDC): | 658.8: Marketingmanagement |
| Zusammenfassung: | This article presents a tractable framework that embeds the allocation of limited attention into competition theory. Motivated by evidence from psychology and marketing a setting is studied where firms can manipulate consumer attention and compete in prices among perceived alternatives. The introduction of limited attention changes the positive and normative predictions obtained from otherwise standard models, such as Salop-style competition. Further, the model identifies when limited attention is beneficial or harmful to firms, and explains why the individually rational decision to become less attentive in presence of more choice options may be catalyzed to a collective inattention trap over the market mechanism. |
| URI: | https://digitalcollection.zhaw.ch/handle/11475/16975 |
| Volltext Version: | Publizierte Version |
| Lizenz (gemäss Verlagsvertrag): | Lizenz gemäss Verlagsvertrag |
| Departement: | School of Management and Law |
| Organisationseinheit: | Zentrum für Arbeitsmärkte, Digitalisierung und Regionalökonomie (CLDR) |
| Enthalten in den Sammlungen: | Publikationen School of Management and Law |
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Hefti, A. (2018). Limited attention, competition and welfare. Journal of Economic Theory, 178, 318–359. https://doi.org/10.1016/j.jet.2018.09.012
Hefti, A. (2018) ‘Limited attention, competition and welfare’, Journal of Economic Theory, 178, pp. 318–359. Available at: https://doi.org/10.1016/j.jet.2018.09.012.
A. Hefti, “Limited attention, competition and welfare,” Journal of Economic Theory, vol. 178, pp. 318–359, Nov. 2018, doi: 10.1016/j.jet.2018.09.012.
HEFTI, Andreas, 2018. Limited attention, competition and welfare. Journal of Economic Theory. November 2018. Bd. 178, S. 318–359. DOI 10.1016/j.jet.2018.09.012
Hefti, Andreas. 2018. “Limited Attention, Competition and Welfare.” Journal of Economic Theory 178 (November): 318–59. https://doi.org/10.1016/j.jet.2018.09.012.
Hefti, Andreas. “Limited Attention, Competition and Welfare.” Journal of Economic Theory, vol. 178, Nov. 2018, pp. 318–59, https://doi.org/10.1016/j.jet.2018.09.012.
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