Scarcity Bias

Scarcity bias is a cognitive tendency in which people assign greater value to things that appear limited, rare, or difficult to obtain. This response is rooted in evolutionary psychology; in environments where resources were genuinely scarce, prioritizing them conferred a survival advantage.

Today, the same mental shortcut can influence behavior across a range of contexts. Whether it’s a product labeled “limited edition” or an opportunity presented as fleeting, the suggestion of unavailability, or the appearance of multiple alternative options; often this is thought to trigger a heightened sense of urgency or desire, even though the underlying value remains unchanged.

In times of plenty, just don’t.

These days it seems that you can just add “Bias” after anything, and, bingo, you’ve discovered a new psychological theorem.