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LIMITED_ATTENTION

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Evolutionary Social and Strategic Aspects of limited Attention and Economic Po...

Evolutionary Social and Strategic Aspects of limited Attention and Economic Policy Implications Attention is a scarce cognitive resource. How economic agents allocate their LIMITED ATTENTION has profound implication for economic policy. Investors may not pay attention to differences in country specific default risks in sover... ver más

31/07/2016

UNI BA

100K€

Presupuesto del proyecto: 100K€

Líder del proyecto

OTTOFRIEDRICHUNIVERSITAET BAMBERG No se ha especificado una descripción o un objeto social para esta compañía.

TRL 4-5

Fecha límite participación Sin fecha límite de participación.

Financiación concedida El organismo FP7 notifico la concesión del proyecto el día 2016-07-31 No tenemos la información de la convocatoria

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Información adicional privada

No hay información privada compartida para este proyecto. Habla con el coordinador.

1 Participantes

UNI BA

0.00€ | Lider

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Líder del proyecto

OTTOFRIEDRICHUNIVERSITAET BAMBERG No se ha especificado una descripción o un objeto social para esta compañía.

TRL 4-5

Presupuesto del proyecto 100K€

Fecha límite de participación Sin fecha límite de participación.

Descripción del proyecto Attention is a scarce cognitive resource. How economic agents allocate their LIMITED ATTENTION has profound implication for economic policy. Investors may not pay attention to differences in country specific default risks in sovereign debt until something triggers attention to this issue. Then we might change from a good equilibrium of sustainable debt to bad equilibrium of default. Consumers may not be able to pay attention to all details and become vulnerable to exploitation by strategic agents. Voters’ limited attention influences elections and ultimately public policies. This project seeks a deeper understanding of LIMITED ATTENTION and its economic consequences. Part 1 investigates the evolutionary foundations of limited attention, seeking a better understanding of the evolution of allocating limited attention. Furthermore, we consider in how far limited cognition can provided a framework for an evolutionary foundations of prospect theory, particularly for probability weighting. In addition, we investigate the evolution of paying attention to different characteristics. Part 2 focuses on social and strategic aspects of allocating limited attention and the implications for public policy. When is paying attention a strategic complement (i.e. you want to pay attention to an issue when others pay attention to it) and when a strategic substitute (i.e. if other pay attention to this issue, you can focus your attention on other things)? How might attentive players exploit inattentive players and how can inattentive agents protect themselves. A better understanding of these strategic aspects of limited attention will have important positive and normative implications for public policy and interesting applications as illustrated in the previous examples. The project is a crucial part of reintegrating the researcher into the European research network, facilitating joint work with his coauthors across Europe, and keeping his international connections and collaborations.

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