Let’s start by examining a personal experience that might resonate with many of you. I’m an avid learner, always looking for courses to enrich my skills and broaden my horizons. I frequently browse Udemy, where you can often find excellent courses offered at prices below Rs. 500. Over time, I’ve accumulated quite a collection of these budget-friendly courses, but there’s a catch: I have more than five unfinished courses sitting in my Udemy library.
Now, here’s the twist in the tale. A few days ago, I decided to make a substantial investment in my education by purchasing a course that cost Rs. 12,000. What surprised me the most was that I completed this course within three days. This stark contrast in my behavior led me to ponder a critical question: Why do we prioritize expensive systems over their more affordable counterparts? What drives this bias?
The IKEA Effect:
To understand this phenomenon better, let’s draw a parallel to furniture retail. Have you ever wondered why people often feel a stronger attachment to furniture they’ve assembled, like those from IKEA?
I recently purchased a reading table from IKEA and personally assembled it.
Unlike other furniture stores, IKEA doesn’t provide pre-assembled furniture or even send anyone to assemble it.
Surprisingly, I found myself loving this table more than the other furniture in my house.
But why is that?
Psychologists refer to this curious phenomenon as the “IKEA effect”.
IKEA, a multinational conglomerate renowned for its ready-to-assemble furniture, requires customers to invest time and effort in assembling their purchases. Unlike traditional furniture stores that offer pre-assembled items, IKEA empowers customers to become co-creators of their furniture. Surprisingly, customers tend to develop a profound appreciation for the pieces they’ve assembled with their own hands.
The Psychology at Play:
Now, let’s apply this concept to our approach to learning and other parts of our lives. Just as we become more emotionally invested in self-assembled furniture, we also tend to develop a stronger attachment to educational endeavors that require significant time, energy, and money.
When we commit a substantial financial resource to a course, our brain perceives it as a significant investment in our personal development. This investment triggers a sense of responsibility and ownership, compelling us to diligently prioritize and complete the course.
In contrast, when we acquire low-cost or free courses, our brains may not perceive them as valuable investments. This perception can lead to procrastination, neglect, and a growing list of unfinished courses.
Conclusion:
Our brains are wired to value what we invest in, whether it’s assembling furniture, pursuing knowledge, or any other part of our lives.