Ikea Effect

The Ikea effect is a cognitive bias that occurs when individuals place a higher value on things that they have personally invested time and effort into, regardless of the objective quality of the product. This can lead to an overestimation of the value or usefulness of the product.

In the context of business and technology, the Ikea effect can have significant implications. It is important for organizations to be aware of this bias and to take steps to mitigate its effects. This can involve encouraging employees to seek out objective feedback and reviews, and to be open to constructive criticism and improvement.

One way to overcome the Ikea effect is through the use of user testing and customer feedback. By gathering input from a diverse group of users or customers, organizations can better understand the objective value and usefulness of their products and make more informed decisions.

Another approach is to encourage a culture of continuous learning and improvement. By fostering an environment that values and rewards the pursuit of excellence, organizations can encourage employees to be open to feedback and criticism and to continually strive to improve their products and services.

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Read more:

IKEA effect - Wikipedia

https://en.m.wikipedia.org/wiki/IKEA_effect

IKEA effect - The Decision Lab

https://thedecisionlab.com/biases/ikea-effect

What is IKEA Effect? - profit.co

https://www.profit.co/blog/behavioral-economics/what-is-ikea-effect

The IKEA Effect | Psychology Today

https://www.psychologytoday.com/us/blog/the-shaping-us/201910/the-ikea-effect

The IKEA Effect – Everything You Need to Know | InsideBE

https://insidebe.com/articles/the-ikea-effect