Ikea effect
A 2011 study found that subjects were willing to pay 63% more for furniture they had assembled themselves than for equivalent pre-assembled items.
That is what is known as Ikea effect. It is an interesting study which tells us that we put more value to things that we have been involved in building or thinking of. It made so much sense because every time I build/fix something with my own hands, I feel a sense of happiness/fulfillment of the new value I have created.
I have some friends who practice a sustainable, zero-waste living (as much as possible) and it is very inspiring to see them. They are more than happy to accept pre-owned clothes (which are in good condition) and they do not buy anything wrapped in plastic. They even carry a box when they go to a bakery. That has rubbed on me a LITTLE bit. Now, I’ve started fixing things(which I can fix) rather than just throw them away and buy a replacement. True to the Ikea principle, it gives me a great sense of fulfillment to know that I have not only saved money or reduced waste but now I have something more valuable than what I paid for it (because, now it is my handiwork).
Next time, before throwing out something that is broken, try to fix it and there is a proven theory that says that you will find it more valuable.
