Attention economy: "information abundance gives rise to atte
Mar 5, 2024 10:02:03 GMT
Post by account_disabled on Mar 5, 2024 10:02:03 GMT
Michael Goldhaber has extraordinary lucidity. A few years ago he analyzed the concept of Attention Economy, whereby "the abundance of information gives rise to the poverty of attention." The concept seems to have been coined by the Nobel Prize in Economics Herbert Simon, who in 1971 investigated the impact of information overload in so-called developed economies. In his opinion, “what attention consumes is quite obvious: the attention of its recipients. From this it follows that a wealth of information creates a poverty of attention.” Years later, in 1997, Goldhaber published the article “The economy of attention and the Internet” in First Monday with an impressive phrase: “money cannot buy attention.” «If the Web and the Net can be viewed as spaces in which we will increasingly live our lives, the economic laws we will live under have to be natural to this new space. These laws turn out to be quite different from what the old economics teaches, or what rubrics such as «the information age» suggest. What counts most is what is most scarce now, namely attention.
The attention economy brings with it its own kind of wealth, its own class divisions – stars vs. fans – and its own forms of property, all of which make it incompatible with the industrial-money-market based economy it bids fair to replace. Success will come to those who best accommodate to this new reality». abundance of information It is evident that the recent (and very growing) digitalization of most of the communication processes carried out in post-industrial societies causes an exponential growth of data, which must be Industry Email List assimilated, classified, compared, monitored. It is an increasingly important task. arduous task that causes attention to be one of the scarcest goods of this new paradigm. The time consciously dedicated to a certain activity decreases (or 36-hour days appear). That is, time becomes the most scarce resource, especially when the cost of producing and distributing digital content tends to zero, according to Chris Anderson in a book Free (he talks about direct cross subsidies, trilateral markets, freemium and , even non-monetary markets). But a new cost appears: lack of attention.
If until a few years ago, with single-platform and captive audiences, it was possible to manage captive audiences, today promiscuity is a constant. Attracting the attention of audiences, captivating their trust, generating continued interest and convincing is the appropriate strategy. The Internet is not a large warehouse, it is the entire warehouse. The case of Spotify, with four million songs, is an example. The selection does not exist, it is auto-generated with each search. It's a process that David Weinberger describes in Everything is Miscellaneous. Information is miscellaneous, composed of different things or different and unconnected genres mixed or united. In this way, each user has their own mental schema and perceives (or searches for) information differently. No one can listen to all the songs on Spotify, but you can find the ones you are looking for with a much tighter precision to your tastes. The same thing happens with web pages. It is impressive to think that a million web pages and 20 billion emails are published every day, without entering into the real-time phenomenon of Twitter.
The attention economy brings with it its own kind of wealth, its own class divisions – stars vs. fans – and its own forms of property, all of which make it incompatible with the industrial-money-market based economy it bids fair to replace. Success will come to those who best accommodate to this new reality». abundance of information It is evident that the recent (and very growing) digitalization of most of the communication processes carried out in post-industrial societies causes an exponential growth of data, which must be Industry Email List assimilated, classified, compared, monitored. It is an increasingly important task. arduous task that causes attention to be one of the scarcest goods of this new paradigm. The time consciously dedicated to a certain activity decreases (or 36-hour days appear). That is, time becomes the most scarce resource, especially when the cost of producing and distributing digital content tends to zero, according to Chris Anderson in a book Free (he talks about direct cross subsidies, trilateral markets, freemium and , even non-monetary markets). But a new cost appears: lack of attention.
If until a few years ago, with single-platform and captive audiences, it was possible to manage captive audiences, today promiscuity is a constant. Attracting the attention of audiences, captivating their trust, generating continued interest and convincing is the appropriate strategy. The Internet is not a large warehouse, it is the entire warehouse. The case of Spotify, with four million songs, is an example. The selection does not exist, it is auto-generated with each search. It's a process that David Weinberger describes in Everything is Miscellaneous. Information is miscellaneous, composed of different things or different and unconnected genres mixed or united. In this way, each user has their own mental schema and perceives (or searches for) information differently. No one can listen to all the songs on Spotify, but you can find the ones you are looking for with a much tighter precision to your tastes. The same thing happens with web pages. It is impressive to think that a million web pages and 20 billion emails are published every day, without entering into the real-time phenomenon of Twitter.