The Allocation of Limited Entrepreneurial Attention

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This volume examines the implications of allocating limited entrepreneurial attention among activities or projects. The text maintains that attention is simultaneously limited in that a decision maker can pay attention to only one thing at a time, and entrepreneurial in that it may be allocated to evaluating a potential new project for possible adoption. However, since the outcome of the allocation of attention is not certain, the number of projects among which attention can be allocated is stochastic and the maximum number of projects is endogenously determined by the optimal allocation of limited entrepreneurial attention. The text describes the implications of this analysis for a number of economic problems.