“We value things higher, when they become scarce”
We don’t like missing out on opportunities. We hate it when choices are no longer available. In this way ‘scarcity’ can be seen as a form of loss aversion (we don’t want to lose an opportunity and become more risk seeking, when the clock is ticking).
When our perception of availability decreases, we tend to value things higher. Therefore we tend to prefer limited editions and scarce products. Therefore we are more likely to buy scarce products and we also like them better to.
Scientific research example:
Imagine you’re watching a tel-sell program late at …