Grooving: On the Principle of Scarcity (opens in new tab)

[NOTE: This episode is republished from #74 in June 2019.] This episode is a discussion on the principle of scarcity. Kurt and Tim attempt to illuminate the power of this very fundamental effect in behavioral science with some real-world examples. Simply put, the scarcity effect is that people want more of those things they can have less of. It’s terribly powerful and is evident in many aspects of our lives. “Sale ends tomorrow” is one of the strongest tools in a marketer’s handbook, and Kurt...