#1771 The Psychology Of Value - Harps

What makes something valuable? What's the difference between perceived value and intrinsic value? How do we add commercial value to whatever it is we 'sell' the world? What would make somebody pay you or me double for our time, skill and/or service? Why would somebody think that a certain label of handbag is a bargain at 'only $10,000'? What role does scarcity (or perceived scarcity) have on value? What influence does social proof, comparison and context have on what you and I think a particular thing is worth? What impact does emotion have when it comes down to what people consider to be valuable or maybe even, precious (like that handwritten letter from Grandma)? What is the IKEA effect? And finally, how does branding, marketing and group-think impact perceived value? I love this topic. It’s super fascinating (and broadly relevant). Enjoy. See omnystudio.com/listener for privacy information.