Attention Capture

Abstract

We develop a unified analysis of how information captures attention. A deci- sion maker (DM) faces a dynamic information structure and decides when to stop paying attention. We characterize the convex-order frontier and extreme points of feasible stopping times, as well as dynamic information structures which implement them. This delivers the form of optimal attention capture as a function of the designer and DM’s relative time preferences. Intertemporal commitment is unnecessary: sequentially optimal information structures always exist by inducing stochastic interim beliefs. We further analyze optimal attention capture under noninstrumental value for information. Our results speak directly to the attention economy.

Keywords: Dynamic Information Design, Optimal Stopping, Sequential Optimality, Belief Paths, Suspense, Extreme Points, Attention