Скачать или смотреть The Brainy Business Podcast: Episode 14 - Behavioral Economics Foundations, Scarcity

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Fall is a favorite season of mine and probably a favorite season to many of you. It’s also the time of year that my favorite honey crisp apples are available. Like cotton candy grapes, these apples benefit from scarcity. Today, I break down what scarcity is and how you can apply this concept to your business.

Scarcity is another concept in my lessons on behavioral economics foundations. Traditionally, scarcity is when an item is limited, but there is unlimited desire for that item. When we see something as scarce, we perceive that it has higher value. In today’s behavioral economics podcast, I will share stories and examples of how scarcity affects perceived value and how it relates with other foundational concepts like loss aversion.