The IKEA Effect: Why We Overvalue What We Build 🛠️
The IKEA Effect: Why We Overvalue What We Build 🛠️
Ever spent hours assembling an IKEA dresser, only to proudly display it in your home like a priceless antique? There's a psychological reason behind this.
It's called the IKEA effect - valuing things more just because we put labour into building them. 👷♀️
What is the IKEA Effect?
The IKEA effect refers to our tendency to overvalue products we construct ourselves, even if the end result is low quality. 🪥🪚
Studies show we place more value on DIY furniture, origami, or meals we cook versus buying finished products. Our effort makes us biased. 🥘🧺
Benefits of the IKEA Effect
This cognitive bias has advantages:
Encourages us to build new skills and be self-reliant 🛠️
Makes us appreciate the work something takes 💪
Provides a sense of fulfilment and ownership 🏡
Downsides of the IKEA Effect
But it can also lead to:
Overestimating our amateur work 🪑🖼️
Spending more on DIY when hiring a pro is better 👷
Clinging to inferior self-made solutions 🛋️
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Examples of the IKEA Effect
Some scenarios where we overvalue our own handiwork:
Displaying a mediocre DIY painting rather than buying quality art 🖼️
Serving subpar homemade food vs. going to a nice restaurant 🍽️
Spending too much time jerry-rigging a repair rather than hiring an expert 👩🔧
The IKEA effect applies anytime our effort makes us biased, even if the output is imperfect. 🪑📏
If you have any feedback, suggestions, or want to discuss any topic further, please let me know in the comments or email me at gopichandbusam@substack.com.