Objective
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.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
- social sciences political sciences political policies public policies
- social sciences political sciences political transitions elections
You need to log in or register to use this function
We are sorry... an unexpected error occurred during execution.
You need to be authenticated. Your session might have expired.
Thank you for your feedback. You will soon receive an email to confirm the submission. If you have selected to be notified about the reporting status, you will also be contacted when the reporting status will change.
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
FP7-PEOPLE-2012-CIG
See other projects for this call
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
MC-CIG - Support for training and career development of researcher (CIG)
Coordinator
96047 Bamberg
Germany
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.