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Endowment Effect


The endowment effect, which is also known as loss aversion, is a very robust effect in psychology, and one that has very important practical implications for eCommerce. This effect was...

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The IKEA Effect


I’d like to talk to you today about the Build-A-Bear workshop. If you haven’t been to one, well you can probably guess what happens. You get to make your own...

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The Power of Free


A theme running through a lot of these videos – and a good place to start is the one about System 1 and System 2 – is that many businesses...

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Intrinsic and Extrinsic motivation


In this video, I’m going to talk about intrinsic and extrinsic motivation, and why you need to try to maximise your customers’ intrinsic motivation. So, what are these two types...

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Ego Depletion


Ego depletion – or as it’s sometimes called, ego fatigue – was first investigated by a social psychologist called Roy Baumeister. What he did was to get some participants who were...

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Delay Discounting


What do the following groups of people have in common: Heroin users, drinkers, smokers, heavy gamblers, people suffering from obesity, shoplifters, people who don’t exercise, people who skip breakfast, people...

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