Competition for attention in the Information (overload) Age

Simon P. Anderson · André de Palma

120 citations0/0 files storedThe RAND Journal of Economics

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Consumer Market Behavior and Pricing Merger and Competition Analysis Digital Platforms and Economics

Abstract

The Information Age has a surfeit of information received relative to what is processed. We model multiple sectors competing for consumer attention, with competition in price within each sector. Sector advertising levels follow a constant elasticity of substitution (CES) form, and within‐sector prices are dispersed with a truncated Pareto distribution. The “information hump” shows highest ad levels for intermediate attention levels. Overall, advertising is excessive, although the allocation across sectors is optimal. The blame for information overload falls most on product categories with low information transmission costs and low profits .

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References

1994The magical number seven, plus or minus two: Some limits on our capacity for processing information.2001Discrete Choice Methods with Simulation 1969A New Product Growth for Model Consumer Durables 1976A New Product Growth Model for Consumer Durables 1960Individual Choice Behavior: A Theoretical Analysis.1992Discrete Choice Theory of Product Differentiation 2008The Concept of Information Overload - A Review of Literature from Organization Science, Accounting, Marketing, MIS, and Related Disciplines (2004)1957The Theory of Monopolistic Competition

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