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Robert Cialdini || The New Psychology of Persuasion
The Psychology Podcast
The Power of Loss, Aversion
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Daniel connaman has won the nobel prize for demonstrating the power of loss, aversion. His prospect theory says the prospects of losing thing are more motivating to us than the prospects of gaining that same thing under conditions of risk and uncertainty. If something is scarce or rare or dwindling an availab availability, you're afraid that it will be lost to you. And so that's the reason people want those things that have those characteristics. A study done of am six thousand, 700 e commerce web sites looked at which were the factors that had made the biggest difference in a conversion from a prospect to customer. It was scarcity. The next five were the other principles of influence, nie.
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