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This can result in more value being applied to an outcome than it actually has. An example of this is the IKEA effect, the tendency for people to place a disproportionately high value on objects that they partially assembled themselves, such as furniture from IKEA, regardless of the quality of the end product. [30]
One of the main limitations of this theory lies in the methodology of the research. The SVS is comparatively difficult to answer, because respondents have to first read the set of 30 value items and give one value the highest as well as the lowest ranking (0 or −1, depending on whether an item is opposed to their values).
People who value warm, loving relationships with others may want a cup of coffee to share in a social manner. Perspective and personal beliefs greatly influence behavior. [5] Clawson and Vinson (1978) further elaborated on this idea by explaining how values are one of the most powerful explanations of, and influences on, consumer behavior. [7]
Value theory, also known as axiology and theory of values, is the systematic study of values.As the branch of philosophy examining which things are good and what it means for something to be good, it distinguishes different types of values and explores how they can be measured and compared.
According to one proposal, impersonal value is the sum of all personal values. [7] Well-being is typically understood as an intrinsic or final value, meaning that it is good in itself, independent of external factors. Things with instrumental value, by contrast, are only good as means leading to other good things, like the value of money. [8]
Belief that one is "ontologically acceptable" is to believe that one's acceptability is "the way things are without contingency". [92] In this belief, as expounded by theologian Paul Tillich, acceptability is not based on a person's virtue. It is an acceptance given "in spite of our guilt, not because we have no guilt". [93]
The most famous example of such a theory is Dissonance-reduction theory, associated with Leon Festinger, which explains that when the components of an attitude (including belief and behavior) are at odds an individual may adjust one to match the other (for example, adjusting a belief to match a behavior). [51]
For example, there is a hypothesis that coming to believe that "good things happen to good people and bad things happen to bad people" will reduce feelings of vulnerability. [43] However, this just-world bias has a critical drawback, which is having a tendency to blame victims , even in tragic situations. [ 28 ]