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Scarcity Effects on Value: A Quantitative Review of the Commodity Theory Literature

Author
Lynn, Michael
Abstract
Commodity theory (Brock, 1968) deals with the psychological effects of scarcity. According to the theory, scarcity enhances the value (or desirability) of anything that can be possessed, is useful to its possessor, and is transferable from one person to another. This article introduces commodity theory to the marketing literature, reports a meta-analysis of studies designed to test the theory, and discusses the marketing implications of the theory along with suggestions for future marketing research.
Date Issued
1991-01-01Subject
scarcity; desirability; commodity theory; marketing research; value
Related DOI:
https://doi.org/10.1002/mar.4220080105Rights
Required Publisher Statement: © Wiley. Final version published as: Lynn, M. (1991). Scarcity effects on value: A quantitative review of the commodity theory literature. Psychology & Marketing, 8(1), 43-57. Reprinted with permission. All rights reserved.
Type
article