Scarcity Isn’t Enough

Scarcity isn't enough

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We don’t value three leaf clovers because they’re everywhere.

But according to superstition, if you find a four leaf clover it will bring you good luck.

Maybe you’re in luck because four leaf clovers are so scarce…

Indeed, the chances of finding a four leaf clover are around 5000 to 1.1

However, five leaf clovers are more scarce…

If you found a five leaf clover you should be even more proud because the chances of finding a five leaf clover are around 1 in 25,000!

But even though the five leaf clover is more scarce than the four leaf clover, most people would rather find a four leaf clover because it’s synonymous with good luck. 

Five leaf clovers are truly “long tail” content… But unlike in Internet marketing, scarcity isn’t always an opportunity.

Scarcity doesn’t always equal value… The opportunity cost is the value of the next best alternative.

We make a trade-off… Give up something that is truly more rare, for what we believe is generally accepted as more desirable.

Footnotes

  1. Many websites suggest the odds of finding a four leaf clover are 1 in 10,000 but this research suggests otherwise.