IKEA effect

Uncommon card · No. 141290

The IKEA effect is a cognitive bias in which consumers place a disproportionately high value on products they partially created. The name refers to Swedish manufacturer and furniture retailer IKEA, which sells many items of furniture that require assembly. A 2011 study found that subjects were willing to pay 63% more for furniture they had assembled themselves than for equivalent pre-assembled items.

Read on Wikipedia · Image Cheon Fong Liew, CC BY-SA 2.0