The Neuroscience of Touch
It’s what you touch A bird in the hand is worth two in the bush. There’s a reason this popular saying exists—ownership is perceived to add value to a product. This phenomenon is called the endowment effect, and it’s hardwired in the human brain. Take this example: You’ve just won concert tickets. You’ll sell them to your co-worker for no less than $200. If your coworker was trying to sell the same tickets to you, you wouldn’t pay more than $150. You see, the tickets are far more valuable in your hand than they are in your coworker’s. At least, that’s how the endowment effect makes us feel. Studies have shown that even the simple act of touching objects, like catalogs, brochures and direct mail, can trigger the endowment effect,…
Link to Full Article: The Neuroscience of Touch
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