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    Attention economics treats human attention as a scarce resource and applies economic theory to information management problems. For example, news feeds ask for viewers' attention in exchange for showing advertising. A platform business model creates value by enabling exchanges, typically between consumers and producers. Information asymmetry studies decisions where one party has more information, creating imbalance; and favorable market position is measured by key performance indicators and competition. Value refers to individual utility of goods/services while price is the money paid in exchange.

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    Attention economics treats human attention as a scarce resource and applies economic theory to information management problems. For example, news feeds ask for viewers' attention in exchange for showing advertising. A platform business model creates value by enabling exchanges, typically between consumers and producers. Information asymmetry studies decisions where one party has more information, creating imbalance; and favorable market position is measured by key performance indicators and competition. Value refers to individual utility of goods/services while price is the money paid in exchange.

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    6 views1 page

    Class 1 Notes

    Uploaded by

    ARP BOG
    Attention economics treats human attention as a scarce resource and applies economic theory to information management problems. For example, news feeds ask for viewers' attention in exchange for showing advertising. A platform business model creates value by enabling exchanges, typically between consumers and producers. Information asymmetry studies decisions where one party has more information, creating imbalance; and favorable market position is measured by key performance indicators and competition. Value refers to individual utility of goods/services while price is the money paid in exchange.

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    1 - 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
     For example, news feeds illustrate the point well, since they ask for consumers attention in
    exchange for the opportunity to show him/her advertising

    2 - A platform is a business model that creates value by facilitating exchanges between two or more
    interdependent groups, usually consumers and producers.

    3 - Information asymmetry deals with the study of decisions in transactions where one party has more or
    better information than the other. This asymmetry creates an imbalance of power in transactions

    4 - Condition or circumstance that puts a company in a favourable or superior business position (Measure
    KPIs and the competition)

    5 - Value implies the utility of worth of the commodity of service for an individual. Price is the amount of
    money paid by the buyer to the seller in exchange for any product and service

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