Increasing Attachment and Valuation Through Touch

The endow­ment effect is old news: the amount that we value an object increases once we take own­er­ship of it. The ‘exten­ded ver­sion’ shows that the impact of the endow­ment effect increases with time: our valu­ation of an object increases more and more as the amount of time that we own it also increases. This is known as the length-of-own­er­ship effect.

A recent study pub­lished in the journ­al Judge­ment and Decision Mak­ing1 has taken an even deep­er look at this effect: study­ing how touch­ing an object increases both our attach­ment to that object and how much we value it… even if we don’t own it (also in pdf). Here are the key find­ings of this ‘pre-own­er­ship expos­ure study’:

  • Touch­ing an object will increase our attach­ment to it and valu­ation of it, wheth­er we own it or not.
  • The longer we touch or handle an un-owned object, the great­er we will value it and feel attached to it.
  • Simply think­ing about an un-owned object increases our valu­ation of it and how much we feel attached to it.

Related find­ings, cited in this art­icle:

  • If an object is being sold at auc­tion, the amount that we value the object will increase as the length of the auc­tion increases.
  • Own­ing a coupon for an object increases our emo­tion­al attach­ment to that object.
  • Mak­ing an item the “focus of a com­par­is­on” increases its attract­ive­ness and the prob­ab­il­ity that it would later be selec­ted. We will also feel more attached to the item and will value it high­er.

via @stevesilberman and Life­hack­er (sug­gest­ing that this dur­a­tion-of-expos­ure effect’ is an explan­a­tion for why we have cluttered homes.)

1 What, you’re not read­ing Judge­ment and Decision Mak­ing? You should; it’s bimonthly and open access.