Welcome to the seventeenth episode of the Minutes Mastery series by 3T! In this episode, Rajavee Arora delves into the fascinating psychological phenomenon known as the IKEA Effect and its relevance in both our professional and personal lives.
The IKEA Effect, named after the famous furniture brand, describes how people tend to value things more when they have put effort into creating them, even if the result isn't perfect. This concept was first explored in a 2011 study by researchers Michael I. Norton, Daniel Mochon, and Dan Ariely, which found that participants were willing to pay 63% more for items they built themselves compared to identical pre-assembled products.
But this effect isn’t limited to furniture—it’s a powerful tool in the workplace as well. Rajavee discusses how involving team members in projects and decision-making increases their investment in the outcome, leading to greater job satisfaction and productivity. The same principle applies to our personal lives, like a mother baking a cake herself for a special occasion rather than ordering from a bakery—it's the effort invested that makes the outcome feel more meaningful.
Whether in the office, at home, or in any creative endeavor, the IKEA Effect shows us that what we create, we love—and what we love, we protect.
We acknowledge IKEA and researchers Michael I. Norton, Daniel Mochon, and Dan Ariely for their contributions to this discussion.
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