Latest / Marketing Psychology with Fexingo: Behavioral Triggers, Persuasion, and Consumer Behavior
How the Endowment Effect Makes You Overvalue What You Own
In this episode of Marketing Psychology, Lucas and Luna explore the endowment effect—a cognitive bias that causes people to assign higher value to things they own simply because they own them. Through a concrete example from a 2024 study on IKEA furniture resale, they discuss how brands like IKEA and car dealerships use this effect to boost perceived value. They also touch on practical implications for marketers, such as offering trials and personalization, and how to spot the bias in everyday decisions.
#EndowmentEffect #CognitiveBias #BehavioralEconomics #MarketingPsychology…
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