71. The More Scarce Something Is, the More Valuable People Will Feel It Is
Remember the introduction of the iPhone? When it first came out, there were long lines to get one. Same thing with the second model: long lines; long waits; you can order one, but who knows when you will get it. And Apple implied there might not be enough to go around.
If it’s scarce, then people think it is more valuable and more desirable and will want it even more.
Scarcity works not just for products, but for information too. If people feel that the information you are providing in your presentation is hard to find, then they will value it more highly.
Which Cookies Taste Better?
Worchel, Lee, and Adewole (1975) asked people to rate chocolate chip cookies. They put ...
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