• • • Attention economics is an approach to the management of that treats human as a scarce, and applies to solve various information management problems. Put simply by, 'Attention is a resource—a person has only so much of it.' In this perspective and J. Beck define the concept of attention as: Attention is focused mental engagement on a particular item of information. Items come into our awareness, we attend to a particular item, and then we decide whether to act.

(, p. 20) As content has grown increasingly abundant and immediately available, attention becomes the in the consumption of information. A strong trigger of this effect is that the mental capability of humans is limited and the receptiveness of information is hence limited as well. Attention is used to filter out the most important information by the human brain from a large pool of information surrounding the human in the digital age. A number of either explicitly or implicitly take attention economy into consideration in their, based on the realization that if it takes the user too long to locate something, they will find it through another application. This is done, for instance, by creating filters to make sure the first content a viewer sees is relevant, of interest, or with the approval of demographics. An attention-based advertising scheme may say they are measuring the number of ' eyeballs' by which their content is seen. Contents • • • • • • • • • • • • • History [ ] was perhaps the first person to articulate the concept of attention economics when he wrote: '.in an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes.

What information consumes is rather obvious: it consumes the attention of its recipients. Hence a wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the overabundance of information sources that might consume it' (, pp. Gary Nutt Operating Systems 3rd Edition Pearson 2004 Pdf Viewer.  40–41). He noted that many designers of information systems incorrectly represented their design problem as information scarcity rather than attention scarcity, and as a result they built systems that excelled at providing more and more information to people, when what was really needed were systems that excelled at filtering out unimportant or irrelevant information (, pp. 143–144).

Attention economics is an approach to the management of information that treats human attention as a scarce commodity, and applies economic theory to solve various. Economics Of Attention Pdf Reader. Boettke is a University Professor of Economics and Philosophy at George Mason University and director of the F.

In recent years, Simon's characterization of the problem of as an economic one has become more popular. Business strategists such as or Michael H. Goldhaber have adopted the term 'attention economy' (). Hildegard Bingen Scivias Pdf Viewer.

Some writers have even speculated that 'attention transactions' will replace financial transactions as the focus of our economic system (, ). Information systems researchers have also adopted the idea, and are beginning to investigate which build on the idea of creating property rights in attention (see ). Intangibles [ ] According to expert, the modern attention economy is increasingly one where the product costs nothing to reproduce and the problem facing the supplier of the product lies in adding valuable intangibles that cannot be reproduced at any cost. He identifies these intangibles as: • Immediacy - priority access, immediate delivery • Personalization - tailored just for you • Interpretation - support and guidance • Authenticity - how can you be sure it is the real thing? • Accessibility - wherever, whenever • Embodiment - books, live music • Patronage - 'paying simply because it feels good', • Findability - 'When there are millions of books, millions of songs, millions of films, millions of applications, millions of everything requesting our attention — and most of it free — being found is valuable.' Social attention, collective attention [ ] Attention economy is also relevant to the social sphere.

More specifically, long term attention can also be considered according to the attention that a person dedicates managing its interactions with others. Dedicating too much attention to these interactions can lead to 'social interaction overload', i.e. When people are overwhelmed in managing their relationships with others, for instance in the context of in which people are the subject of a high level of social solicitations. Digital media and the internet facilitate participation in this economy, by creating new channels for distributing attention.