An Indisputable Value of Scarcity

 

By Ogiri John Ogiri 

As a student of Economics, one thing the Paradox of Value has taught me is that, what is common, however essential to life it may be, is usually not appreciated or treasured by consumers. On the other hand, what is scarce usually commands a higher price and is usually treasured by consumers. I have seen and continue to observe this play out in the behaviour of consumers towards water and gold, or water and petrol. Sometimes, I cannot help sympathising with water. How can something be so essential yet so underpriced, undervalued and often taken for granted? But such is the reward for being too commonly available. Those who have experienced acute water shortages, and still do, understand the absolute meaning of value in relation to water, not those who swim in water without end.

The bottom line is this; if you are too available in a relationship, you can be taken for granted even if you are the life support in such a relationship. People tend to value what they cannot easily lay hands on but take for granted what they easily have access to.

It is therefore wise to be genuinely scarce at times. Always leave people wanting more of you. Do not call or text too often. That way, whenever they see your call, they excuse themselves from whatever they may be engaged in and answer you. And if they see your missed call, they return it immediately. But you cannot expect to enjoy this privilege if you are too common. Whenever you call them, it is either they ignore it or they pick and tell you "I'll call you back". Except for those who treasure your relationship, most never call back. You are too available. You are a boredom and a pest to them. This is why I appreciate ladies who play hard to get. They understand the theory of the Paradox of Value. 

My concluding thought is this: a product with a cheap price tag does not always attract high spenders unless it becomes scarce.