In our efforts to achieve greatness, to accomplish goals, to push ourselves to be better (all of which are of great value), we must be very careful to not forget the value of the things right in front of us.Very often a more sound appreciation of what we have, is faster path to happiness than trying to acquire something more.Have you ever talked to someone who just found out they have cancer, and only have a few months to live? Never has the principle of scarcity been more clear, when suddenly the thing you thought was most prevalent – time – is gone.How starkly that tends to change your perception of what is valuable. Sometimes we have to make it, but sometimes we just have to open our eyes.
In each class, students were required to take pictures of campus, then submit three, which would be blown up into gorgeous, huge photographs.Think of that person you weren't interested in, till she or he started dating someone else. This restriction and opposition even has it’s own term - reactance. If you have hundreds in stock don’t advertise the fact you have a finite 11.Groupon clearly uses scarcity in its marketing and on its website. Having sold out signs can ignite the law of scarcity and get them to think “This is sold out, i better hurry the product i want will be too”.It also uses social proof, which will be covered in a future video. This will invoke the law of scarcity and jump many into action.We have all gone away to think about a purchase yet returning to major disappointment, and this plays in our favour. We tend to see far less value in things that are more common, or are readily available, but that may actually be substantially more valuable, especially in accumulation.