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The Times Real Estate

how we value the fruits of our labour over instant gratification

  • Written by Gary Mortimer, Associate Professor in Marketing and Consumer Behaviour, Queensland University of Technology
how we value the fruits of our labour over instant gratificationThe IKEA effect says 'that labour alone can be sufficient to induce greater liking for the fruits of one’s labour'.Shutterstock

There are some anecdotes just so good that almost every story about a particular economic principle begins the same. So too this article begins with cake mix.

In the 1950, the story goes, US food company General Mills...

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