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Words to live by

 I propose a model of a social media platform which manages a two-sided market composed of content producers and consumers. The key trade-off is that consumers dislike low-quality content, but including low-quality content provides attention to producers, which boosts the supply of high-quality content in equilibrium. If the attention labor supply curve is sufficiently concave,
The post Words to live by appeared first on Marginal REVOLUTION. 

I propose a model of a social media platform which manages a two-sided market composed of content producers and consumers. The key trade-off is that consumers dislike low-quality content, but including low-quality content provides attention to producers, which boosts the supply of high-quality content in equilibrium. If the attention labor supply curve is sufficiently concave, then the platform includes some low-quality content, though a social planner would include even more.

That is from the job market paper of Karthik Srinivasan of University of Chicago Booth School of Business.  Via Gavin Leech.

The post Words to live by appeared first on Marginal REVOLUTION.

 Media, Uncategorized, Web/Tech 

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