Scarcity Effect is a cognitive bias characterized by valuing something more because it’s rare or limited.
Example: Buying a product because it’s ’limited edition’ or ‘only 3 left in stock’.
Scarcity Effect
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Related
Choice-Supportive Bias
·38 words·1 min
Hyperbolic Discounting
·25 words·1 min
Naive Cynicism
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