Buzz: Face-to-Face Contact and the Urban Economy
Michael Storper and
Anthony Venables ()
CEP Discussion Papers from Centre for Economic Performance, LSE
This paper argues that existing models of urban concentrations are incomplete unless grounded in the most fundamental aspect of proximity; face-to-face contact. Face-to-face contact has four main features; it is an efficient communication technology; it can help solve incentive problems; it can facilitate socialization and learning; and it provides psychological motivation. We discuss each of these features in turn, and develop formal economic models of two of them. Face-to-face is particularly important in environments where information is imperfect, rapidly changing, and not easily codified, key features of many creative activities.
Keywords: Agglomeration; clustering; urban economics; face-to-face (search for similar items in EconPapers)
JEL-codes: R1 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-geo and nep-ure
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Journal Article: Buzz: face-to-face contact and the urban economy (2004)
Working Paper: Buzz: face-to-face contact and the urban economy (2003)
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Persistent link: https://EconPapers.repec.org/RePEc:cep:cepdps:dp0598
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