Concept
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. According to Matthew Crawford, "Attention is a resource—a person has only so much of it." In this perspective, Thomas H. Davenport and John C. Beck define the concept of attention: 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. As content has grown increasingly abundant and immediately available, attention becomes the limiting factor in the consumption of information. A strong trigger of this effect is that it limits the mental capability of humans and the receptiveness of information is also limited. Attention allows information to be filtered such that the most important information can be extracted from the environment while irrelevant details can be left out. 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 viewers are presented with information that is most relevant, of interest, and personalized based on past web search history. Research from a wide range of disciplines including psychology, cognitive science, neuroscience, and economics, suggest that humans have limited cognitive resources that can be used at any given time, when resources are allocated to one task, the resources available for other tasks will be limited. Given that attention is a cognitive process that involves the selective concentration of resources on a given item of information, to the exclusion of other perceivable information, attention can be considered in terms of limited processing resources. The concept of attention economics was first theorized by psychologist and economist Herbert A.