Influence: The Psychology of Persuasion

by Robert B. Cialdini

The joy is not in the experiencing of a scarce commodity but in the possessing of it. It is important that we not confuse the two. Whenever we confront scarcity pressures surrounding some item, we must also confront the question of what it is we want from the item. If the answer is that we want the thing for the social, economic, or psychological benefits of possessing something rare, then, fine; scarcity pressures will give us a good indication of how much we should want to pay for it—the less available it is, the more valuable to us it will be. However, often we don’t want a thing for the pure sake of owning it. We want it, instead, for its utility value; we want to eat it or drink it or touch it or hear it or drive it or otherwise use it. In such cases, it is vital to remember that scarce things do not taste or feel or sound or ride or work any better because of their limited availability.