We value IKEA furniture more because weβve invested time and energy into reading the instructions and then assembling it. This has taken on a whole new meaning online.
For gamblers, the βsunk cost fallacyβ might sound familiar.
Defined as βa reluctance to abandon a strategy or course of action because oneβs invested heavily in it, even if itβs clear that abandonment would be more beneficial,β itβs a phenomenon that sees poker players (for instance) become increasingly more desperate to win as the game goes on β even if they know theyβre performing worse than at the start β because theyβve already sunk so much into it.
As a result, they keep spending money, despite the diminishing probability that theyβll leave the casino with more than they had when they walked in.
This idea that we make irrational choices because weβve already invested so much into something can be likened to the IKEA effect.
Another cognitive bias thatβs been making the rounds on social media lately, it suggests that weβre more likely to value objects of little value (think, IKEA furniture) higher if weβve made or assembled them ourselves.
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Essentially, because weβve invested time and energy as well as money into the flatpack bed, we view it as more than a worthy investment: itβs better than the four-poster.
As is often the case, this has taken on a whole new meaning online, with netizens using the IKEA effect to explain why people stay in romantic relationships that no longer serve them.
Reminding us of how this echoes the doomed-to-fail βI can fix himβ mentality, content creator Ramya Araj reveals to her βbabesβ why they βcanβt let go of the guy who gives [them] below bare minimum.β She tells us that βthe more we invest, the less we want to let him go.β
This is also known as emotional chasing, which involves constantly seeking affection, approval, or validation from a partner, often at the expense of oneβs own wellbeing.
As psychologist Annika Lindberg stresses, when this happens βitβs rarely a sign that youβre part of a balanced and mutually satisfying relationshipβ and that the βchaseβ is indicative of βimbalance, mixed messages and, more often than not, at least one person who is failing to see their own worth.β