Latest / Behavioral Economics with Fexingo: Decision Making, Bias, and How People Really Spend
The IKEA Effect Why Your Own Work Feels More Valuable
Why does assembling a Billy bookcase make you love it more? This episode of Behavioral Economics with Fexingo explores the IKEA Effect — the cognitive bias where we overvalue things we help create. Lucas and Luna trace the 2011 Harvard study by Michael Norton, Daniel Mochon, and Dan Ariely, which showed that participants who built IKEA boxes valued them as much as expertly crafted ones, and that even failing to complete the task destroyed the premium. They discuss real-world applications: from Kraft's 'Make Your Own' Oreo campaign and the rise of meal kits, to why software…
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