Mental bandwidth and the scarcity mindset
The science underpinning scarcity
Economists study scarcity by constantly analyzing demand and supply. Therefore there are myriad economic theories deconstructing scarcity but barely any on the psychology of scarcity, how it impacts decision making and what it means to live with the primary instinct to get through or survive.
Eldhar Shafir, a psychologist at Princeton, collaborated with…