Buzz: face-to-face contact and the urban economy

Storper, Michael and Venables, Anthony J. (2003) Buzz: face-to-face contact and the urban economy. CEPDP, 598. Centre for Economic Performance, London School of Economics and Political Science, London, UK. ISBN 0753016761

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Abstract

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.

Item Type:	Monograph (Discussion Paper)
Official URL:	http://cep.lse.ac.uk
Additional Information:	© 2003 the authors
Library of Congress subject classification:	H Social Sciences > HB Economic Theory
Journal of Economic Literature Classification System:	R - Urban, Rural, and Regional Economics > R1 - General Regional Economics
Sets:	Collections > Economists Online Research centres and groups > Centre for Economic Performance (CEP) Departments > Geography and Environment
Identification Number:	598
Date Deposited:	28 Jul 2008 10:31
URL:	http://eprints.lse.ac.uk/20008/

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