Some Old Guy Posted March 24, 2021 Share #1 Posted March 24, 2021 In case you want some time to think about it. I think this is an interesting bit of trivia. Category: International Business: Clue: The “effect” named for this company founded in 1943 refers to increased value of a product to a consumer whose own labor is needed. Answer: Spoiler What is "IKEA"? Link to comment Share on other sites More sharing options...
Ralphie ★ Posted March 24, 2021 Share #2 Posted March 24, 2021 15 minutes ago, Clark said: In case you want some time to think about it. I think this is an interesting bit of trivia. Category: International Business: Clue: The “effect” named for this company founded in 1943 refers to increased value of a product to a consumer whose own labor is needed. Answer: Hide contents What is "IKEA"? I guessed wrong. 1 Link to comment Share on other sites More sharing options...
Some Old Guy Posted March 24, 2021 Author Share #3 Posted March 24, 2021 10 minutes ago, Philander Seabury said: I guessed wrong. I had a hard time imagining what international company was founded during the middle of WWII. Link to comment Share on other sites More sharing options...
Zephyr Posted March 24, 2021 Share #4 Posted March 24, 2021 I had a hard time figuring out what exactly the question was even asking. 1 Link to comment Share on other sites More sharing options...
Ralphie ★ Posted March 24, 2021 Share #5 Posted March 24, 2021 1 hour ago, Clark said: I had a hard time imagining what international company was founded during the middle of WWII. I guessed a well-known electronic one. Uncle Google says it was founded in 1926. Link to comment Share on other sites More sharing options...
Some Old Guy Posted March 24, 2021 Author Share #6 Posted March 24, 2021 This amplifying info from the https://thejeopardyfan.com site is interesting. Spoiler "The IKEA Effect, named after famous Swedish manufacturer and furniture retailer IKEA, dates from a 2011 study that reported that people were willing to pay over 60% more for items that they had made themselves, due to the fact that people intrinsically place more value into an item that they have assembled themselves. This obviously can have advantage for manufacturers as well, as then they only need to provide the raw materials to the consumer, who can then assemble things into the finished product." 1 1 Link to comment Share on other sites More sharing options...
Ralphie ★ Posted March 24, 2021 Share #7 Posted March 24, 2021 1 minute ago, Clark said: This amplifying info from thejeopardyfan.com site is interesting. Hide contents "The IKEA Effect, named after famous Swedish manufacturer and furniture retailer IKEA, dates from a 2011 study that reported that people were willing to pay over 60% more for items that they had made themselves, due to the fact that people intrinsically place more value into an item that they have assembled themselves. This obviously can have advantage for manufacturers as well, as then they only need to provide the raw materials to the consumer, who can them assemble things into the finished product." That is truly bizarre! 1 Link to comment Share on other sites More sharing options...
Airehead Posted March 25, 2021 Share #8 Posted March 25, 2021 I knew this because it is a cognitive bias and I learned about these in doctoring school. Link to comment Share on other sites More sharing options...
LoneWolf Posted March 25, 2021 Share #9 Posted March 25, 2021 I'm not watching Jeopardy. It stopped being a real show when they invited Dr. Oz as a guest host. Link to comment Share on other sites More sharing options...
2Far ★ Posted March 25, 2021 Share #10 Posted March 25, 2021 I thought i knew it, though I wasn’t sure of the founding date. Wo2 thought I was wrong. I wasn’t. Link to comment Share on other sites More sharing options...
Airehead Posted March 25, 2021 Share #11 Posted March 25, 2021 8 hours ago, LoneWolf said: I'm not watching Jeopardy. It stopped being a real show when they invited Dr. Oz as a guest host. I dislike him intensely. I hope everyone else thinks the same thing and he is gone in a flash. 1 Link to comment Share on other sites More sharing options...
Ralphie ★ Posted March 25, 2021 Share #12 Posted March 25, 2021 38 minutes ago, Airehead said: I dislike him intensely. I hope everyone else thinks the same thing and he is gone in a flash. I am just totally puzzled how a doctor can sell snake oil. 1 Link to comment Share on other sites More sharing options...
Prophet Zacharia Posted March 25, 2021 Share #13 Posted March 25, 2021 Has anyone ever heard of or used the phrase “the IKEA effect”? I certainly have not. 1 Link to comment Share on other sites More sharing options...
Airehead Posted March 25, 2021 Share #14 Posted March 25, 2021 18 minutes ago, Prophet Zacharia said: Has anyone ever heard of or used the phrase “the IKEA effect”? I certainly have not. I have in doctoring school. Along with terms like sunk cost bias. This is from some guys at HArvard-- The “IKEA Effect”: When Labor Leads to Love When instant cake mixes were introduced in the 1950’s as part of a broader trend to simplify the life of the American housewife by minimizing manual labor, housewives were initially resistant: The mixes made cooking too easy, making their labor and skill seem undervalued. As a result, manufacturers changed the recipe to require adding an egg; while there are likely several reasons why this change led to greater subsequent adoption, infusing the task with labor appeared to be a crucial ingredient (Shapiro 2004). Similarly, Build-a-Bear offers people the “opportunity” to construct their own teddy bears, charging customers a premium even as they foist assembly costs onto them, while farmers offer “haycations,” in which consumers must harvest the food they eat during their stay on a farm. Link to comment Share on other sites More sharing options...
Airehead Posted March 25, 2021 Share #15 Posted March 25, 2021 3 minutes ago, Airehead said: I have in doctoring school. Along with terms like sunk cost bias. Of course, I rarely use terms like heuristics in real life either. Link to comment Share on other sites More sharing options...
Bikeguy Posted March 25, 2021 Share #16 Posted March 25, 2021 24 minutes ago, Prophet Zacharia said: Has anyone ever heard of or used the phrase “the IKEA effect”? I certainly have not. That was new to me. I never heard of that before. Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted March 25, 2021 Share #17 Posted March 25, 2021 I've honestly never considered anything I put together from Ikea as "better" or more valuable than a similar item that came pre-assembled. I definitely would not pay MORE for Ikea stuff, and consider Ikea a "discount" store. Does anyone go to Ikea looking to pay a premium????? Link to comment Share on other sites More sharing options...
Ralphie ★ Posted March 25, 2021 Share #18 Posted March 25, 2021 I once built an IKEA dining room table and chairs and it was a total POS, and a totally frustrating assembly task. Link to comment Share on other sites More sharing options...
Prophet Zacharia Posted March 26, 2021 Share #19 Posted March 26, 2021 On 3/25/2021 at 2:13 PM, Razors Edge said: Does anyone go to Ikea looking to pay a premium????? No. I see it as a) college furniture or early career apartment, b) teen at home who will destroy any furniture or c) shelving for pantry or recreation room. Or a TV stand for an partially finished basement. I bought an IKEA desk for my 16 yo son for school from home during Covid. If I needed a new home office desk, that wouldn’t be where I’d have purchased it. Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted March 26, 2021 Share #20 Posted March 26, 2021 19 hours ago, Philander Seabury said: I once built an IKEA dining room table and chairs and it was a total POS, and a totally frustrating assembly task. I actually don't mind assembling the stuff, but when you do assemble it, you realize it is not all that great! What makes it fun (for me) is to not follow the instructions and see how far I get before I realize I did something crucial wrong or finish but have way too many extra bits. Disassembly and reassembly can be fun too. 6 minutes ago, Prophet Zacharia said: shelving for pantry or recreation room I think we have one or two Ikea bookshelves in our library room. A couple more of similar look came from Target and seem identical in quality and size. Link to comment Share on other sites More sharing options...
Ralphie ★ Posted March 26, 2021 Share #21 Posted March 26, 2021 10 minutes ago, Razors Edge said: I actually don't mind assembling the stuff, but when you do assemble it, you realize it is not all that great This! It was a cane-like material and incredibly flimsy. Really bad. Link to comment Share on other sites More sharing options...
LoneWolf Posted March 27, 2021 Share #22 Posted March 27, 2021 On 3/25/2021 at 7:14 AM, Airehead said: I dislike him intensely. I hope everyone else thinks the same thing and he is gone in a flash. Exactly why I'm not watching. Jeopardy! is supposed to be about facts. Having Dr. Oz host it is an antithesis to that premise. 1 Link to comment Share on other sites More sharing options...
Ralphie ★ Posted March 28, 2021 Share #23 Posted March 28, 2021 I find it either funny or sad that the Jeopardy kerfuffle seems to be even bigger than the Columbia kerfuffle. Does Jeopardy outrank Columbia in the pantheon of knowledge? OK, maybe it is just perspective, because lots of doctors and such apparently signed the request to Columbia to axe him, plus it was a few years ago. Hmm, there is also the AMA. Link to comment Share on other sites More sharing options...
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