According to digital culture expert Kevin Kelly, the modern attention economy is increasingly one where the consumer 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.
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when people are overwhelmed in managing their relationships with others, for instance in the context of social network services 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.
Ordinary people are now empowered to reach a wide audience by publishing their own content and commenting on the content of others.
Traditional media advertisers followed a model that suggested consumers went through a linear process they called AIDA - Attention, Interest, Desire and Action.
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 information management problems.
Put simply by Matthew Crawford, "Attention is a resource—a person has only so much of it." 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. 20) A number of software applications either explicitly or implicitly take attention economy into consideration in their user interface design, 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 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. Goldhaber have adopted the term "attention economy" (Davenport & Beck 2001).
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" (Simon 1971, pp. 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 (Simon 1996, pp. In recent years, Simon's characterization of the problem of information overload as an economic one has become more popular. Some writers have even speculated that "attention transactions" will replace financial transactions as the focus of our economic system (Goldhaber 1997, Franck 1999).