FOMO, Luxury, and Hype: Why Scarcity Drives Desire
FOMO, Luxury, and Hype: Why Scarcity Drives Desire February 12, 2025 | Advertising, Competitiveness, Decision Making, Insights, Modern Life, Perception, Question a Day Question a Day The Psychology of Scarcity Scarcity is a powerful force that drives human behavior in surprising ways. From exclusive designer handbags to limited-edition sneakers, items in short supply often seem more desirable. But why does this happen? Why do we value something more simply because it’s hard to obtain? The answer lies in a mix of psychological principles, social behaviors, and economic fundamentals. Let’s break it down and uncover why scarcity makes us crave what we can’t easily have. The Psychology of Scarcity The scarcity principle is a psychological concept that suggests people assign more value to things that are rare or limited. Scarcity often overrides logical decision-making and taps into our emotional and subconscious responses. Here are some of the psychological drivers behind this p...