0December 20, 2009Iphone’s, and the Rock and Roll Hall of Fame: Why lusting over cool technology and being immortalized ma
Posted Dec 20 2009 12:00am
Remember when the iphone came out and people were paying exorbitantly high prices for it? Nevertheless, people made it clear that there was a demand and that they would pay the price deemed by the company selling it. While at first people were lusting for the object eventually some people began to abhor their previously prized technology and took action. One individual went as far as suing the company after the company significantly reduced the price because the object could not be sold or sold at a loss.
Take another story of a group of people wanting to fit in; for example, a rock band with a long history and influence that is nominated for the rock & roll hall of fame. However the band is denied several times after nomination. The band, who thought of themselves as outsiders, members would tell themselves, and others, that it was no big deal to not be inducted to the rock & roll hall of fame. Finally the band was accepted to the rock & roll hall of fame. While some might consider it a positive outcome there seems to be some debate on the importance to some band members with regard to their induction.
What do these two stories have in common? How do we make sense of the counterintuitive reasoning that first, we want something, but at a high cost or many failures, and when we get it perhaps we don’t care so much for it? Litt et al., 2009, reasoned that the mechanisms for wanting and the liking of, although not mutually exclusive, are being dissociated. Litt et al., 2009, noted that affect, how much the object was liked, moderates a person’s decision to pay more for and get rid of the object when given the chance. The researchers suggest that wanting is not necessarily affected by failure to obtain the object. On the other hand liking is more likely to be influenced by attainability. So perhaps paying a large sum of cash or being rejected several times may in turn influence how someone feels about what they wanted.
Read more: Iphone’s price cut 2007 story
Read more: Iggy Pop and the Hall of Fame Induction
Read more: Apple sued over dropping phone prices
Litt, A., Khan, U., Shiv, B. (2009). Lusting while loathing: Parallel counterdriving of wanting and liking.