Scarcity Variations
The scarcity heuristic does not only apply to a shortage in absolute resources. According to Robert Cialdini, author of Influence: Science and Practice, the scarcity heuristic leads to us to make biased decisions on a daily basis. It is particularly common to biased by the scarcity heuristic when assessing four parameters: quantity, rarity, time, and censorship.
Read more about this topic: Scarcity Heuristic
Famous quotes containing the word variations:
“I may be able to spot arrowheads on the desert but a refrigerator is a jungle in which I am easily lost. My wife, however, will unerringly point out that the cheese or the leftover roast is hiding right in front of my eyes. Hundreds of such experiences convince me that men and women often inhabit quite different visual worlds. These are differences which cannot be attributed to variations in visual acuity. Man and women simply have learned to use their eyes in very different ways.”
—Edward T. Hall (b. 1914)