Scarcity Effect | An Overview | Real life Example
One of our common sense of judgement is that , we think that whatever is rare should be of high worth. May it be an antic museum piece, or a boot worn by a very professional player. Just because they are rare, should it necessary be worth that huge amount of money? This video caters that human emotion and psychology where we think that whatever is rare should be of high value, and we want to be the part of it.
Inorder to enhance your viewing experience . Please follow the timestamp mentioned as :
00:00 Introduction
00:45 Mechanism of Scarcity Effect.
01:23 Professions Affected by the Scarcity Effect.
02:26 Real life Example of Scarcity Effect.
02:58 Conclusion
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