Cowen, T. (2006). Terrorism as theater: Analysis and policy implications. Department of Economics, 128: pp. 233-244.

The production of terrorism resembles in some regards the production of culture especially television and theater. Terrorism is made a spectacular theater produced for viewers. Terrorist spectacles fit all criteria for focality. Terrorists have goals they wish to achieve, when prices of achieving go up, they will substitute into other ends. Ones terrorism is conceptualized as theater, it is easy to see why the costs of mounting a terrorist attack are higher than they might at first seem. The highest cost might be maintaining the “theater”.