This episode is a discussion on the principle of scarcity. Kurt and Tim illuminate the power of this very fundamental effect in behavioral science with some real-world examples. Simply put, the scarcity effect is that people want more of those things they can have less of. It’s terribly powerful and is evident in many aspects of our lives.
“Sale ends tomorrow” is one of the strongest tools in a marketer’s handbook, and Kurt and Tim discuss that and others and the ways they impact behavior. We also talk about the implications of scarcity and how scarcity helps us prioritize and can actually increase focus in our lives.
This episode is the third in our series on the Principles of Persuasion by Robert Cialdini, PhD. The other principles from Cialdini’s work have been discussed in previous episodes and you can check them out at the Behavioral Grooves website. The principle of Reciprocity was overviewed in episode #57 and the principle of Consistency was discussed through the lens of politicians and politics in episode #49. Please check them out if you’re interested in Cialdini’s Persuasion Principles.
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LINKSPrinciples of Persuasion – Robert Cialdini, PhD: https://www.influenceatwork.com/principles-of-persuasion/
Stephen Worchel, Jerry Lee & Akanbi Adawole, (1975) “Effects of supply and demand on ratings of object value” Journal of Personality and Social Psychology, 32(5), 906-914. https://psycnet.apa.org/record/1976-03817-001
Sendhil Mullainathan& Eldar Shafir, (2013) Scarcity: Why Having Too Little Means So Much, Times Books. https://www.amazon.com/Scarcity-Having-Little-Means-Much/dp/0805092641/ref=tmm_hrd_title_0?_encoding=UTF8&qid=&sr=
Tim Urban blog: Wait But Why? https://waitbutwhy.com/
Kurt Nelson: Twitter: @motivationguru or @whatmotivates and LinkedIn: https://www.linkedin.com/in/kurtwnelson/
Tim Houlihan:Twitter: @THoulihan and LinkedIn https://www.linkedin.com/in/tim-houlihan-b-e/
Check out the Behavioral Grooves website: https://behavioralgrooves.com/
John Bargh: Dante, Coffee and the Unconscious Mind
Covid-19 Crisis: Howard Friedman, PhD on The Value of Human Life
Grooving: Protests Sparked by the Death of George Floyd in Minneapolis
Covid-19 Crisis: Chris Pfeiffer on Tips for Adjusting Sales Comp Plans
Dan Hill, PhD: On the Facial Coding of Trump, Hendrix, Prince, Gretzky and the Beatles
Covid-19 Crisis: Claire Bidwell Smith on Grief During the Crisis
Covid-19 Crisis: Kristen Berman on Remote Work, Quaranteams and Marinades
Covid-19 Crisis: Stephen Curtis on Neuroplasticity and Creating the Ideal
Gary Latham, PhD: Goal Setting, Prompts, Priming, and Skepticism
Covid-19 Crisis: Mariel Beasley on Increasing Short Term Savings During the Crisis
Samuel Salzer: Benefits and Perils of Streaks
Covid-19 Crisis: Kaveh Yasdifard on Uniting Innovators from Tehran
Covid-19 Crisis: Gretchen Chapman, PhD on The Psychology of Vaccinations
Covid-19 Crisis: Jules Nolan on The Kids are Alright - Insights on Coping Through the Crisis
Thanks For No Memories During the Coronavirus Pandemic
Covid-19 Crisis: Greg Davies, PhD on the Fetish of Optimization
Iris Tzafrir: A Kind Word
Covid-19 Crisis: Anurag Vaish on Risk is a Feeling, Not a Number
Artem Petakov: Our Biggest Competitor is the Couch
Covid-19 Crisis: Michael Boden on How Field Sales Reps Are Adapting to the Crisis
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