Attention economics is a field of study that focuses on the value of human attention as a limited and highly sought-after resource. It explores how individuals and organizations can compete for attention in an increasingly crowded and noisy marketplace.
One key aspect of attention economics is the concept of “attention capital,” which refers to the value of an individual’s attention as a resource that can be invested, spent, or traded. This concept is often used to describe the value of free services such as video games, which may generate revenue through advertising or by building a deeper relationship with customers that leads to purchases.
Attention economics can also be used to calculate the costs associated with negative effects that consume people’s attention but add no value, such as spam emails or disruptive advertising. These costs can be measured in terms of the time and resources that are wasted on unproductive or unwanted activities, as well as the negative impact on productivity and overall satisfaction.