How Product Scarcity Impacts on Choice: Snob and Bandwagon Effects

Erica van Herpen, Wageningen University
Rik Pieters, Tilburg University
Marcel Zeelenberg, Tilburg University
EXTENDED ABSTRACT - The value of products is not only determined by the utility that consumers derive from the products’ attributes and their functional consequences, but has an important social component as well. Specifically, scarce products are generally deemed valuable, independent of the utility that their intrinsic attributes deliver. This effect has been found in several studies and appears robust (Lynn 1991). This paper identifies two distinct routes through which scarcity can increase product choice. These routes are expected to have distinct effects in the product valuation process, which have until now not been examined in detail.
[ to cite ]:
Erica van Herpen, Rik Pieters, and Marcel Zeelenberg (2005) ,"How Product Scarcity Impacts on Choice: Snob and Bandwagon Effects", in NA - Advances in Consumer Research Volume 32, eds. Geeta Menon and Akshay R. Rao, Duluth, MN : Association for Consumer Research, Pages: 623-624.