Sunday, October 30, 2011

Attention deficit or a constant?

This is an interesting thesis when you link the recent work in finance on information and attention. We are always trying to fill out attention with information. We generally are not overloaded with information. We can handle a lot.

However, Herbert Simon, the nobel prize winner in economics would say that we have become information rich and attention poor. Information computation transmission and storage has each increased multifold but our attention has stayed stable. We may have switched from depth to speed of acquiring information and knowledge. Knowledge may have moved from a "stock" to a "flow" concept. We consume information at a faster pace  regardless of quality.

The type of information could be the issue especially if it is new. The problem is whether there information is useful and can be processed correctly. This is the role for decision sciences.

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