The tendency for people to ascribe more value to things merely because they own them, discovered by Richard Thaler.
Explained
- People value things more once they feel a sense of ownership over them.
- A free trial, a personalised setup, or saved data all create ownership before any purchase.
- Giving something up then feels like a loss, which people resist strongly.
- This is why investment during onboarding raises attachment and lowers churn.
