How does the zero-sum bias arise?
Posted: Sun Dec 22, 2024 10:43 am
The zero-sum bias probably has an evolutionary cause. Indeed, in times of scarcity, there is often a zero-sum situation. Food for one person means no food for another. To survive, you used to have to fight for something, knowing that someone else would be worse off as a result (Rubin, 2002).
In current times, there are new theories that due to globalization thailand telephone number and increasing communication and cooperation between countries, we are increasingly moving toward non-zero-sum situations, where a benefit to one party also means a benefit to another (Wright, 1999).
Examples of the zero-sum bias in practice
In friendships, you might think that when you have multiple friends, those friendships are less "good" or qualitative than when you have one good friend.
In a negotiation, you may think you can only win at the expense of the other party, when you could also go for a joint solution.
With copyright infringement, you might think that any duplicate is automatically a lost sale of the original.
Using the zero-sum bias to your advantage
Taking the zero-sum bias into account is critical if you want to increase conversions and be successful in negotiations with partners or associates:
In your marketing, do not emphasize too many benefits of a product or service, but focus on the most important ones, after all, it can never be that you are good at all of them, according to consumers (Chernev, 2007).
Emphasize in negotiations that gains in one area need not come at the expense of gains in another area. For example, a particular job offer can both pay well and have good fringe benefits.
When differentiating between customers in subscriptions, emphasize that both the basic package and the premium package are good value for money and that the premium package is an extension of the basic package (Hagerty, Thompson & Barasz, 2021).
In current times, there are new theories that due to globalization thailand telephone number and increasing communication and cooperation between countries, we are increasingly moving toward non-zero-sum situations, where a benefit to one party also means a benefit to another (Wright, 1999).
Examples of the zero-sum bias in practice
In friendships, you might think that when you have multiple friends, those friendships are less "good" or qualitative than when you have one good friend.
In a negotiation, you may think you can only win at the expense of the other party, when you could also go for a joint solution.
With copyright infringement, you might think that any duplicate is automatically a lost sale of the original.
Using the zero-sum bias to your advantage
Taking the zero-sum bias into account is critical if you want to increase conversions and be successful in negotiations with partners or associates:
In your marketing, do not emphasize too many benefits of a product or service, but focus on the most important ones, after all, it can never be that you are good at all of them, according to consumers (Chernev, 2007).
Emphasize in negotiations that gains in one area need not come at the expense of gains in another area. For example, a particular job offer can both pay well and have good fringe benefits.
When differentiating between customers in subscriptions, emphasize that both the basic package and the premium package are good value for money and that the premium package is an extension of the basic package (Hagerty, Thompson & Barasz, 2021).