Creating, connecting... • 1m
Hey Medial fam—ever wondered why we overvalue our own creations or get stuck on that first price we see? 1. 🛠️ IKEA Effect We overvalue things we’ve had a hand in building. When you assemble your own furniture, you feel proud—and you’re willing to pay more for it (even if it wobbles). You spend an afternoon putting together a bookshelf from IKEA—and suddenly it’s *priceless* in your eyes. 2. 🎁 Endowment Effect Simply owning something makes us think it’s worth more. Your old coffee mug? You’d be devastated to lose it—even though you’d never buy it again if you saw it in a store. You list a second-hand gadget for ₹500—but when someone offers you ₹400, you think, “No way—I won’t sell!” 3. ⚓ Anchoring Effect Our first piece of information “anchors” our judgment. That first price tag sticks in our mind, and everything else feels cheap or expensive relative to it. A ₹10K smartwatch seems reasonable if you first see a ₹20K model—even if it’s still more than you’d usually spend.
Will become a inspir... • 1m
“The IKEA Effect: Why We Value What We Build” The IKEA Effect is a psychological phenomenon where people place higher value on products they partially create themselves. The name comes from IKEA, where customers assemble furniture — and end up lovin
See MoreBusiness enthusiasti... • 1m
“Anchoring Effect: The First Price You See Changes Everything” The Anchoring Effect is a cognitive bias where people rely too heavily on the first piece of information (the “anchor”) they see when making decisions — especially in pricing. Businesses
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