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According to the scarcity principle, people assign more value to opportunities that are less available. The use of this principle for profit can be seen in such compliance techniques as the “limited number” and “deadline” tactics, wherein practitioners try to convince us that if we don’t act now, we will lose something of value. This engages the human tendency for loss aversion—that people are more motivated by the thought of losing something than by the thought of gaining something of equal value. The scarcity principle holds for two reasons. First, because things difficult to attain are ...more
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Influence: The Psychology of Persuasion
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