People regularly obey the sense of property, because “mine” is a very strong installation. As soon as we take possession of the subject, its significance increases. Therefore, we so often see unrealistic sales prices and buy for marketing tricks. We analyze the six effects that a sense of property produces on us.
Everyone who at least once tried to sell the house, the car, discovers that sellers and buyers rarely converge in price. It is enough to view the section of sales ads in a local newspaper, and there are examples of how people overestimate the cost of ordinary goods. It’s not that the seller is not off.
Of course, sellers want to get as much money as possible, but at the same time allow the opportunity to bargain. It turns out, therefore, people sometimes set sky -high prices, or there is another reason?
The buyer’s behavior has their own characteristics. We grab for special offers like: “After 30 days we will refund you money”. Is it not happiness – to take possession of a new digital camera when you know that it can be returned? Although most often it remains with us. At EBAY-type sites, we install the limit of bargaining for ourselves, but we go out for it in a minute, because someone interrupted the bet.
Specialists of the behavioral economy argue that a sense of property – real, partial or virtual – has a strange effect. Let’s see how much these oddities are manifested in controlled conditions.
Buyers and sellers shares the abyss
To get tickets for the basketball tournament of the year at the University of Duke is like getting a star from the sky. They have to be played in the lottery, because many people are fighting for the right to possess. After the lottery in the hands of the lucky ones, there is an object that everyone wanted. Such a random distribution is a great opportunity to study the psychology of purchases and sales.
In 2000, Ziv Carmon and Dan Arieli arranged an experiment. At first they divided students into two groups: those who won tickets, and those who were left with nothing, but passionately wanted to get to the match. Then they began to call the participants in the experiment to find out how many happy owners they agree to sell tickets, and what price those who were unlucky were ready to pay.
The difference in the price set by customers and sellers turned out to be a colossal. Those who wanted to get to the decisive basketball match were ready to pay an average of $ 166 for a ticket for a ticket. What sounds good, given the possibilities of students and the fact that this is a fee for some couple of entertainment hours.
However, it turned out that the price of buyers did not even close with the expectations of sellers. The holders of tickets called a completely wild amount: an average of $ 2.411! What do you think, they really wanted to find fools who will pay her? Of course, among those who passionately wanted to visit the game, there were not a single interested buyer.
Six ownership complexes
In the book “Predictable irrationality”, Dan Arieli claims that a sense of property has six strange effects.
1. Property enhances the sensory perception of value
It is worth us to take possession of something, as we begin to become attached to this. The fact of possession of an object already increases its value in our eyes: we have a relationship with every thing.
2. We tend to focus on losses
When selling, we seem to look out of sight of the financial side and instead focus on the subject, which is about to leave hands, writes Dan Arieli. Unwillingness to feel bad forces you to request an exorbitant price for an old house, car or collection of rare records.
3. It seems to us that everyone shares our feelings
Do potential buyers understand how hard it is for us to part with these rubberized, dusty vinyl discs. Yes, nothing of the kind, they will rather pay attention to their dubious appearance or laugh at the wretched musical taste.
4. Invested efforts exacerbate the perception of value
The table bought once, collected with your own hand after torment, seems more expensive than the same table, bought in ready -made form. When we put efforts, we give the subject part of ourselves, so its value increases. Other people are not interested in this and should not.
5. Virtual property
People manage to feel that they own a certain object before they really take possession. Dan Arieli says prices on the site sites often take off due to the feeling of imaginary property. It is worth saying the first bet, and we already see this thing in our hands. When someone interrupts the bet, we immediately increase the threshold, because since https://stovespareparts.ie/wp-content/pages/fortuneclock-casino-review-an-experts-take-on-what-to-expect.html we mentally seized this lot, he has gained exceptional value.
6. Partial property
Asses of marketing are aware of the power of a sense of property and use tricks to promote the buyer to partial possession: after all, it will almost certainly become complete. Few people take furniture to the store after a 30-day period of guaranteed return of money, because we have attached to it, it is our.
We will be objective
It turns out that we request a fabulous price for property not from greed. The attitude to different junk really changes strongly, as soon as it becomes our. Unfortunately, addictions lead to negative consequences. Setting an inconceivable price for things that we try to sell, we do not sell anything at all. On the contrary, when we buy, we get involved in virtual and partial property, although we do not particularly need these things.
It would seem that the problems are solved simply: try to objectively evaluate property and think about each purchase. Speaking is always easier than doing. It is difficult to remain impartial when you sell what you value, and it is easy to create an imaginary relationship with what you want to get.
Theoretically, the recipe “How to overcome the owner’s complexes” consists in objectivity and impartiality. Is such an enlightened attitude to property possible? What do you think?