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Article
Scarcity Effects on Value: A Quantitative Review of the Commodity Theory Literature
Articles and Chapters
  • Michael Lynn, Cornell University School of Hotel Administration
Publication Date
1-1-1991
Abstract

Commodity theory (Brock, 1968) deals with the psychological effects of scarcity. According to the theory, scarcity enhances the value (or desirability) of anything that can be possessed, is useful to its possessor, and is transferable from one person to another. This article introduces commodity theory to the marketing literature, reports a meta-analysis of studies designed to test the theory, and discusses the marketing implications of the theory along with suggestions for future marketing research.

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Required Publisher Statement
© Wiley. Final version published as: Lynn, M. (1991). Scarcity effects on value: A quantitative review of the commodity theory literature. Psychology & Marketing, 8(1), 43-57. Reprinted with permission. All rights reserved.

Citation Information

Lynn, M. (1991). Scarcity effects on value: A quantitative review of the commodity theory literature [Electronic version]. Retrieved [insert date], from Cornell University, School of Hospitality Administration site: http://scholarship.sha.cornell.edu/articles/179