Scarcity Heuristic

Rare things read as valuable; the effect is strongest when scarcity comes from demand or variety, and weaker for 'limited time' and 'only 2 left' cues that meta-analyses find unreliable.

An everyday example

Paying more for a product because it 'sold out twice'.

What it can cost you

Buying availability rather than value; being sold with manufactured cues.

Warning signs

I want it more because it is running out.
The scarcity claim came from the seller.

One thing to do

Ask why it is scarce; if the answer is marketing, ignore the scarcity and price the item as if plentiful.

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Loss Aversion Status Quo Bias Zero-Risk Bias

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