Attention economy

The attention economy is an emerging paradigm in information management that employs economic principles to manage the limited and valuable resource of human attention. The attention economy is predicated on the idea that an individual's attention is a finite resource, which can be allocated among available stimuli, and can be commodified, bought, sold, and traded. This conceptualization of attention has been defined as "the allocation of mental resources among the available stimuli" (Goldhaber, 1997).

The attention economy has gained particular prominence in the context of the rise of social media and the internet, which have created new opportunities for businesses to capture and monetize individuals' attention. The attention economy has become a significant topic of concern, with some scholars positing that it can contribute to the proliferation of distraction, information overload, and addiction, among other adverse effects.

Notwithstanding its potential negative impacts, the attention economy has been acknowledged for its potential to drive innovation and improve the efficiency of information management. By providing a framework for understanding and managing attention, the attention economy can help individuals and organizations to optimize their use of this scarce and valuable resource. As such, the attention economy remains a promising area of research, with the potential to contribute to the development of novel strategies for information management in the digital age.