Seth's Blog: Paying attention to the attention economy

Seth's Blog: Paying attention to the attention economy

"...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" (Simon 1971, pp. 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 (Simon 1996, pp. 143–144).

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 can not 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."