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This study aims to investigate whether digital advertising can be effective despite consumer inattention and how certain common combinations of ad characteristics increase or decrease ad effectiveness under conditions of low attention.

Using two online experiments in naturalistic environment, the authors compare ad effects under focussed, divided and incidental attention, for certain ad characteristics, namely, appeal type and (mis)matching between appeal and brand type. The results are analysed using logistic regression.

Ad exposure under low attention does increase brand consideration and choice. The greatest uplift in impact occurs when moving from non-exposure to incidental attention. Under incidental attention, emotive advertising was more effective than rational advertising, as was matching rather than mismatching an emotional appeal to a hedonic brand. Conversely, under divided attention, rational advertising and mismatching a rational appeal to a hedonic brand were more effective.

This research explores the effectiveness of Twitter ads with an emotional or a rational appeal and the (mis)matching between appeal and utilitarian or hedonic brand type. Future research can examine other formats and creative elements of digital advertising that can affect the low-attention processing and the effects that occur.

Intrusive, attention-getting advertising strategies may not be necessary. Certain common creative devices can increase advertising effectiveness despite low attention, so marketers can ensure consumer-centric marketing communication.

There has previously been limited understanding of low-attention mechanisms in advertising and little evidence of ad effectiveness under conditions of low attention. The research also demonstrates that certain ad characteristics, linked to common creative devices, enhance the impact of advertising despite low attention.

The purpose of this paper is to understand how the context congruity effects of online product recommendations (PRs) by recommendation agents (RAs) influence consumers’ attention to and memory of recommended products in an online shopping environment.

The study focuses on the context congruity effects of online PRs by examining consumers’ browsing patterns and attention characteristics (fixation counts and fixation duration) using an eye-tracking device and by measuring memory performance with an aided memory test. Three types of PRs (highly congruent, lowly congruent and incongruent PRs) and two degrees of involvement (high and low involvement) are considered.

The results of the gaze data show that context congruity effects can influence consumers’ PR attention, but this effect is not moderated by involvements. The results of the memory data show that PR recognition is influenced not only by context congruity effects but also by involvement. Another significant finding is that attention to a PR does not necessarily guarantee better memory performance.

The study significantly contributes to deepening the understanding of how context congruity can influence consumers’ attention to and memory of PRs. The findings also have important managerial and practical implications, such that selecting and presenting PRs should be based on context congruity effects.

First, introducing context congruity effects to investigate the effectiveness of online PRs by RAs not only provides an important theoretical contribution to research on recommendation effectiveness but also enriches its application. Second, the findings suggest that the relationship between visual attention and memory is not definitely positive. Third, to interpret the complex translation process from attention to memory, the authors propose a methodology that considers stimulus attributes, issue involvement, cognitive capacity and cognitive interference.

The garbage can model showed that what appears to be irrational and unpredictable choices can be explained by processes that regulate attention allocation and the availability of choice alternatives. Because attention to alternatives fluctuates, the model generates context-dependent choices: evaluations of alternatives depend on the mix of other alternatives considered. I re-examine the mechanisms by which fluctuating attention can cause context-dependent choices. Using insights from behavioral decision theory I demonstrate how adding fluctuating attention to a well-known model of organizational decision making generates context-dependent choices of a kind that could not be explained by a maximizing process.

Metaverse, that is extended reality (XR)-based technologies such as augmented reality (AR) and virtual reality (VR), are increasingly believed to facilitate fundamental human practice in the future. One of the vanguards of this development has been the consumption domain, where the multi-modal and multi-sensory technology-mediated immersion is expected to enrich consumers' experience. However, it remains unclear whether these expectations have been warranted in reality and whether, rather than enhancing the experience, metaverse technologies inhibit the functioning and experience, such as cognitive functioning and experience.

This study utilizes a 2 (VR: yes vs no) × 2 (AR: yes vs no) between-subjects laboratory experiment. A total of 159 student participants are randomly assigned to one condition — a brick-and-mortar store, a VR store, an AR store and an augmented virtuality (AV) store — to complete a typical shopping task. Four spatial attention indicators — visit shift, duration shift, visit variation and duration variation — are compared based on attention allocation data converted from head movements extracted from recorded videos during the experiments.

This study identifies three essential effects of XR technologies on consumers' spatial attention allocation: the inattention effect, acceleration effect and imbalance effect. Specifically, the inattention effect (the attentional visit shift from showcased products to the environmental periphery) appears when VR or AR technology is applied to virtualize the store and disappears when AR and VR are used together. The acceleration effect (the attentional duration shift from showcased products to the environmental periphery) exists in the VR store. Additionally, AR causes an imbalance effect (the attentional duration variation increases horizontally among the showcased products).

This study provides valuable empirical evidence of how VR and AR influence consumers' spatial bias in attention allocation, filling the research gap on cognitive function in the metaverse. This study also provides practical guidelines for retailers and XR designers and developers.

Media-effect refers to the phenomenon that stocks with no or low media coverage earn higher returns than stocks with high coverage. This paper aims to explore the existence of media-effect in China stock market and tests the two competing hypotheses explaining this phenomenon.

The authors construct a research sample based on a media-coverage event: the publications of lists of the most wealthy Chinese individuals; in addition, they identify the stocks of which listed firms are led by a controller who is recognized on the publicized lists. This paper uses event study methodology to test the existence of media effect in China A-share market. The authors employed propensity score matching (PSM) to construct a control group with same number of non-listed stocks. Then compared the returns of the two portfolios to test the risk premium hypothesis, and the abnormal trading volume and price reaction around the event date is explored to test the over-attention underperformance hypothesis.

Sampled stocks show significantly negative abnormal returns within the event period, but the matched control group formed by PSM shows no significant abnormal return, indicating that the risk premium hypothesis is not supported. Covered stocks show significantly magnified trading volume. The portfolio gains significant positive return before the event date but turns significantly negative afterward, which is consistent with the over-attention underperformance hypothesis.

This paper offers insights into media-effect in China stock market and provides empirical evidence explaining its existence.

This research aims to test focus of attention effects in risky choice.

As opposed to traditional aspiration-level theory, the shifting-focus concept introduces a second reference point, the survival point, and assumes a shifting focus of attention between the two reference points. In this conceptualization, risk-taking is a function of focus of attention on the survival reference point or the aspiration-level and resources relative to the two reference points. Four randomized controlled studies tested this concept.

Study 1 showed that with aspiration focus the probability of choosing a risky option was higher below an aspiration-level than above it. With survival focus, the effect was reversed. Study 2 found that close to the survival reference point, the probability of choosing a risky option was higher with aspiration focus relative to survival focus. Study 3 revealed that with scarce resources the risk taken was higher with aspiration focus than with survival focus, and the scarcer the resources the stronger was the effect. Study 4 demonstrated that with aspiration focus the risk taken was higher below an aspiration-level than above it. With survival focus the effect was reversed.

In addition to providing support for the validity of the shifting focus concept, this paper elaborates on the theoretical model by providing evidence for moderation effects. Risk-taking was affected by a focus of attention on one of two reference points, and the effect was moderated by resources relative to the two focal points. An advanced model is proposed to capture the effects of focus of attention and resources on risk-taking behavior.

The use of brand slogans that represent brand concepts on app launch pages can improve user brand impressions. The purpose of this paper is to investigate the impact of using animated or static spokes-characters with brand slogans on app launch pages.

Using the theory of attention selection, the authors conducted two experiments to study the boundary and mediation path of the influence of the motion attributes of spokes-characters (static vs animated) on brand memory based on app launch time (3 s vs 5 s), user engagement with spokes-characters and the level of attention to brand slogans.

Study 1 explores the effect of the interaction between launch time and the motion attributes of spokes-characters on brand memory. The results show that when the launch time of the app is 3 s, the advertisement memory effect of using a static spokes-character is better than that of using an animated spokes-character; when the launch time of the app is 5 s, the advertisement memory effect of using an animated spokes-character is better than that of using a static spokes-character. Study 2 shows that user engagement with spokes-characters and the level of attention given to brand slogans play a continuous mediating role in the effect of the interaction between launch time and the motion attributes of spokes-characters on brand memory.

This paper contributes to the marketing literature by expanding the knowledge of spokes-characters and animated visual images, providing new insights for future research.

This analysis is the first to explore the overall roles of the offsetting attraction and distraction influences of earnings news in shaping the level of attention given to the equity market by market participants.

We use multivariate regression approach and examine how trading activity levels within the set of non-announcing firms varies with respect to collective measures of contemporaneous earnings announcement visibility. We employ attention and information transfer theories in our hypothesis development.

This analysis is the first to explore the overall roles of the offsetting attraction and distraction influences of earnings news in shaping the level of attention given to the equity market by market participants. Specifically, we examine how the number of earnings announcement activity affects investor attention as measured by trading volume given to the set of non-announcing firms. We find that while earnings announcement numbers lower trading volume responses to earnings news among announcing firms (consistent with Hirshleifer et al., 2009), their distractive influence does not carry over into the market as a whole. More importantly, investor attention to both the overall market and the larger subset of non-announcing firms increase in response to earnings news activity levels. However, after decomposing the announcers as same-industry and different-industry announcers, we find that investor attention to the non-announcing segment of the market increases with the number of same-industry announcers, but actually seems to decrease (i.e. they distract attention) with the number of different-industry announcers. We also find that the associated earnings surprise brings attention to non-announcing firms (consistent with earnings news is relevant to overall market price movements). Finally, we find that distraction effects are attenuated in the financial crisis period.

A promising area of future research is to examine the relation between market pricing efficiency and aggregate earnings activity for the set of non-announcing firms. Although it will be a challenging task to measure pricing efficiency for the non-announcers, this will complement the prior literature only focusing on the announcing segment of the market.

First, instead of assessing the impact of number of earnings announcements on the subset of announcing firms, which is a micro-level perspective, we identify the impact of news arrivals on all firms in the market including the vastly larger set of non-announcing firms. Second, by decomposing the number of announcements into industry-related and -unrelated news we show that different types of news arrivals spark investor attention differently, suggesting the importance of categorizing the news into related and unrelated industries.

A potential future area of research identified by our analysis is to investigate what type of investors' attention is distracted or attracted during the earnings announcements. A promising area of future research is to examine the relation between market pricing efficiency and aggregate earnings activity for the set of non-announcing firms.

This paper is the first one exploring the overall roles of the offsetting attraction and distraction influences of earnings announcements in shaping the level of investor attention given to the equity market by market participants. Our findings should be of interest to investors, analysts, security market regulators and researchers.

Dynamic advertising, including television and online video ads, demands new theory and tools developed to understand attention to moving stimuli. The purpose of this study is to empirically test the predictions of a new dynamic attention theory, Dynamic Human-Centred Communication Systems Theory, versus the predictions of salience theory.

An eye-tracking study used a sample of consumers to measure visual attention to potential areas of interest (AOIs) in a random selection of unfamiliar video ads. An eye-tracking software feature called intelligent bounding boxes (IBBs) was used to track attention to moving AOIs. AOIs were coded for the presence of static salience variables (size, brightness, colour and clutter) and dynamic attention theory dimensions (imminence, motivational relevance, task relevance and stability).

Static salience variables contributed 90% of explained variance in fixation and 57% in fixation duration. However, the data further supported the three-way interaction uniquely predicted by dynamic attention theory: between imminence (central vs peripheral), relevance (motivational or task relevant vs not) and stability (fleeting vs stable). The findings of this study indicate that viewers treat dynamic stimuli like real life, paying less attention to central, relevant and stable AOIs, which are available across time and space in the environment and so do not need to be memorised.

Despite the limitations of small samples of consumers and video ads, the results of this study demonstrate the potential of two relatively recent innovations, which have received limited emphasis in the marketing literature: dynamic attention theory and IBBs.

This study documents what does and does not attract attention to video advertising. What gets attention according to salience theory (e.g. central location) may not always get attention in dynamic advertising because of the effects of relevance and stability. To better understand how to execute video advertising to direct and retain attention to important AOIs, advertisers and advertising researchers are encouraged to use IBBs.

This study makes two original contributions: to marketing theory, by showing how dynamic attention theory can predict attention to video advertising better than salience theory, and to marketing research, showing the utility of tracking visual attention to moving objects in video advertising with IBBs, which appear underutilised in advertising research.