The IKEA Effect refers to the tendency for people to value things they have created/built themselves more than if made by someone else – in fact, nearly as much as if an expert had created the same item.Read the complete post here.*** asking consumers to do a little legwork, you can increase their belief in the value of the product they have created, even if it would have been better constructed by professionals. Perhaps the best-known application of this principle is the theory’s namesake, Swedish furniture manufacturer IKEA. IKEA furniture is sold in boxes, with sometimes a great deal of assembly required.
Correcting misconceptions about markets, economics, asset prices, derivatives, equities, debt and finance
Friday, September 23, 2011
The IKEA Effect: Loving What We Make Ourselves
Posted By Milton Recht
From Neoacademic, "Unfolding the IKEA Effect: Why We Love the Things We Build" by Richard N. Landers:
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