CNBC: Meatballs and DIY bookcases - The psychology behind Ikea's iconic success
Associate Professor of Marketing Daniel Mochon was featured in a CNBC story about the psychology underlying Ikea's business success. The story references Mochon's research on the Ikea effect, a phenomenon in which one overvalues something he or she has created, and includes a quote from an interview he did with Shankar Vedantam, host of NPR's “Hidden Brain” podcast.
Imagine that you built a table. Maybe it came out a little bit crooked. Probably your wife or your neighbor would see it for what it is, you know, probably a shoddy piece of workmanship. But to you, that table might seem really great because you’re the one who created it. It is the fruit of your labor, and that is really the idea behind the ‘Ikea effect.’
To read the story in its entirety, visit cnbc.com: