The IKEA Effect: Why We Overvalue What We Build Ourselves
Norton, Mochon, and Ariely asked subjects to assemble IKEA boxes, then bid on them in an auction alongside identical expert-assembled boxes.
December 2024
December 2022
What Is Psychological Ownership: Why We Feel Things Are Ours
Psychological ownership explains why we feel things belong to us even without legal title. Learn how it drives the endowment effect, IKEA effect,...