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How Psychology Influences User Decisions: The Wuhan Mobile Phone Number List Endowment Effect

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How Psychology Influences User Decisions: The Wuhan Mobile Phone Number List Endowment Effect

Take the child to the pet store. The child loves a kitten that is just two months old. But there is no plan to raise a pet at home. So he does not plan to buy it. At this time. The owner said to you: ” seeing that the baby likes it so much. Take it home and keep it for two days. Let the baby enjoy it and send it back later. ” his new friend came home. After two days of getting along. Guess what. The day after tomorrow you sent a cat or money? The team has just completed a big project of the company. The boss said: at the end of the year. Everyone in the department will issue an extra 2 -month year-end bonus as a bonus. Everyone feels very happy.



Marketing tactics against loss aversion

At the end of the year. The Wuhan Mobile Phone Number List boss said: ” due to the impact of the market environment. The company’s capital flow is under great pressure. And it has been changed to a one -month bonus. I hope everyone understands. ” will you understand at this time? Will there be some loss in my heart? This is the well-known psychological phenomenon of the endowment effect: people perceive the value of what they have is higher than before they own it. Two days of getting along is enough to make the child think that he has a new friend as a kitten.


Wuhan Mobile Phone Number List


And you will gradually accept the kitten as a Wuhan Mobile Phone Number List family member. If you give it away after two days. The children will feel that they have lost a friend. This huge sense of loss. You can only pay for it obediently. And buy a few more bags of cat food by the way. The same is true for the example of year-end bonuses. The satisfaction brought by the one-month bonus paid at the end of the year is far less than the loss caused by one month’s less bonus payment. This is how the endowment effect affects how we perceive things in our daily lives. The endowment effect has two relatively intuitive manifestations:

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