The scarcity psychological principle of persuasion says that the fewer there are things, the more people will want them.
The scarcity principle has the potential to make something good seem great, and something undesirable seems desirable. The belief that one may miss out on a fabulous opportunity creates a sense of urgency, leading individuals to make emotional, rather than rational, decisions.
The scarcity principle is an economic theory in which a limited supply of a good—coupled with a high demand for that good—results in a mismatch between the desired supply and demand equilibrium.
According to psychologists, social proof and commitment are the underlying concepts of the scarcity principle. Based on social proof, there is often a high tendency that people to see a scarce product as a product of higher quality.
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