Familiarity bias has a strong effect on what you buy. There are often better options out there instead of just sticking with what you know. So, change up your comfort zone and expand your horizons like I did with LatestLiving.com - a growing new retailer offering the latest, high quality, affordable home decor and furnishings. Read on to learn more about my newfound familiarness with this bias and this brand.
Einstein equation, E = MC2, may have cracked the scientific code with his theory of relativity stating that small amounts of mass are equivalent to huge amounts of energy. However, I’m going to uncrack the psychology code on a predisposition in our buying psyches called the relativity bias.
After a full life and a long fight, my father-in-law passed away in late 2014. While I’m sure this good man gracefully found heaven, us on earth were hellishly floundering through Kübler-Ross’ five stages of grief and my “purse”onal denial stage was strangely complex as I turned to shopping to salve the sadness - defining Retail Therapy.
The ownership effect is a powerful cognitive bias that impacts personal life and beyond. But, we are all entitled to "let it go" a little! Join me in self-reflecting, educating, interpreting and applying this theory.