Social Computing and the Attention Economy

Social computing focuses on the interaction between social behavior and information, especially on how the latter propagates across social networks and is consumed and transformed in the process. At the same time the ubiquity of information has left it devoid of much monetary value. The scarce, and therefore valuable, resource is now attention, and its allocation gives rise to an attention economy that determines how content is consumed and propagated. Since two major factors involved in getting attention are novelty and popularity, we analyze the role that both play in attracting attention to web content and how to prioritize them in order to maximize it. We also demonstrate that the relative performance of strategies based on prioritizing either popularity or novelty exhibit an abrupt change around a critical value of the novelty decay time, resembling a phase transition.