Endowment-effect-sm.jpg
 
 

Owning something changes how a person views the price - if you own it, you tend to think it is worth more and are less likely to give it up. Therefore, creating a sense of ownership around a behavior or an item makes it more likely to continue.To encourage an outcome, set it as the default.

To encourage someone to not give up or continue something, give them a sense that they already own it or have already started the process.

  • Create an early feeling of ownership for a process, perhaps by adding a “congratulations, you’re a member” screen after an initial interaction.

What it is not:

Is it not valuing something more because you built or created it - that is the IKEA effect.