Do you usually go for a “fat burger”, “super-size burger” or a “thin cookie”? These kind of labels push us to make mental associations with human body shapes and types, triggering our emotions and the way we perceive and evaluate the food we consume. A “thin cookie” implicitly suggests a small portion and lower calorie content perfect for those who work out or watch their figure. A “fat burger” caters to hedonistic needs and might appeal to people getting a kick from larger, more satisfying portions. These very words play on self-image and fitting social expectations.  As humans, we tend to make choices that gain us acceptance from others we identify with and demonstrate our conformity to established norms (Van de Waal, Borgeaud, and Whiten 2013).

Picture this: You’re mindlessly scrolling through your Instagram feed, and there she is – Kylie Jenner, effortlessly flaunting the latest makeup trends. Now, Kylie is not just a reality TV superstar; she's a mega influencer with millions of followers. When you see her sharing her makeup tips and product recommendations, you can't help but feel a sense of wishful identification. You admire her glamorous lifestyle and think, "Maybe I can achieve a touch of that too!" It's like having a front-row seat to the world of luxury. These feelings of identification with Kylie spark a desire to emulate her, and suddenly, those makeup products she's endorsing become must-haves in your beauty routine.

Suppose you want to sell a cupboard; how do you determine the price? You will probably compare prices with similar ones and how much the purchase price was. Buyers, in turn, will judge it on external features: how many drawers are there, what material is it made of? Yet often there is a difference in what the seller thinks a product is worth and what the buyer is willing to pay. This is also called the endowment effect (Thaler, 1980).

However, society is becoming increasingly technological, and more (digital) services are offered. Think, for example, of a platform like Amazon, a company specializing in data privacy, or the experience of going to a concert. How are these services evaluated? And more importantly, how big is the seller-buyer gap? Let’s dive in!

It’s Saturday night and you’re watching your favorite show. As the show reaches a thrilling climax, it cuts to a commercial break, and that is when your eyes catch something extraordinary. You come across a mouthwatering food ad that stands out from the rest. The perfectly plated dish looks incredibly delicious. However as a health-conscious individual, you are curious about the nutritional information of this tempting meal.

What is the absolute dream of a brand struggling with a dwindling consumer base? Waking up to find out their demand has suddenly gone through the roof and the biggest problem is not being able to keep up with production!

That’s what happened to the confectionary brand MoonPie when they changed marketing tactics in 2017. Was it their product? Their distribution or sales promotion that they’ve changed?