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/
Victoria Shaffer: End of Life Decision Tools
Grooving: UPenn Norms and Behavioral Change Workshop
Paul Hebert: 7 Deadly Incentive Sins
Grooving: On Goals
Brad Shuck: Being Ignored is Worse Than Having a Stapler Thrown at You
Jim Guszcza: Data Science AND Behavioral Science, New Wine in a New Bottle
Gina Merchant: Combating Misinformation
Annie Duke: Revisiting the Matrix
Announcements: Minneapolis and Philadelphia Events
Christian Hunt: Mitigating Human Risk and The Algorithmic Mind
Brian Ahearn: Influencing People Ethically
Alex Blau: The Implementation-Intention Framework
Steven Sisler: Seeing People as We Are
Chris Matyszczyk: Listening to Music While You Work
Scott Jeffrey: On Justifiability
Grooving: On Behavioral Songs
Grooving: On Cognitive Dissonance
Matt Loper: Helping Patients Adhere to Medication Plans
Grooving: On Liking
Nurit Nobel: De-Biasing the Recruiting Process
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