IKEA effect

Welcome to issue #10 of my new newsletter, Cognitive Biases! The internal operating system influences our decision-making process. 

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We value high on the things that are created by ourselves, like an IKEA product that you will have to assemble yourself.

Look at the presentations you have made, papers you've submitted for publication, photos you have posted on social media. They are special to you. “This product is my brainchild “ is the common phrase that you can relate with when it comes to giving higher value to one’s own idea. The ability to adapt to the new product, systems, software, or strategy that emanated from your efforts is easier in such cases.

Opposite of this is the “unopened book effect”. After looking at the attractive cover or reviews we order a book, but some of the books are kept unopened for months together. 

The tendency to give less value to the things created by others is the unopened book effect. We tend to ignore the initiatives by others because that does not belong to us personally. Does not mean we hate these stuff, yet it lacks a personal association. 

IKEA and Unopened book effects play a vital role in how quickly we adapt to a change. Wherever a change program is initiated by us or we belong to the team that proposes the change, it is the IKEA effect that comes into play. Wherever someone else brings in the change, it becomes an unopened book.

Note: “Unopened Book Effect” is a new phrase that we are introducing in this newsletter, and that does not demean the authors or the world’s leading bookstores, but only to demonstrate human behavior. I myself am an author!