Getting something free gives us a good feeling. It is said that paying nothing or zero is an emotional hot button and is a source of irrational excitement. Why do we find zero cost irresistible? Free when offered against another item which one has to pay free always trumps. We often end up buying what we do not want only because something comes along with it free. Perhaps, simple cost benefit analysis leads us to that we perceive as free. Some scholars say that there is no cost analysis. It is just because it is free we are moved to it. Hence, we have to ask: What is it about free that is so enticing. Free seems to give a great emotional charge and we perceive what is given free is highly valuable than it really is. This is so because we as humans are deeply afraid of loss. The real allurement of free is tied to this fear and desire for value ( where perceived value is always higher than the real value). It may be that we fear that we will never get the opportunity to get it free again. This is the zero price effect.
Often zero price effect is used to make us buy things that we do not want. Just because we get 30% free on an item , we end up buying that item even when we do not really need it. Think of the freebees offered by the political parties. Those that give the maximum freebees seem to win. We exchange of votes for freebees or even for some money. Often, we exchange our old car, electronic gadget for a brand new ones. We are sometimes blinded by a free exchange and freeing that we may not get that offer again, we end up exchanging a good car even when we might as well have done with it for some more time. We may also opt for EMIs that enable us to purchase the product and pay later. it just means that we cannot resist the gravitational pull of free in one form or the other.
The way we are attracted to zero price, we are also attracted to zero calories, zero trans fats or zero carbs. It is said that cans that are labeled as zero sugars or zero calories are sold more. Zero, therefore, is a different place. It turns our irrational side on. Zero can also be used to tune our social policy. May be zero road taxes on the electronic cars may increase their sale as well as save our fossil fuels and ecological damage. When we make the procedures of preventing medical care free, we may generate a healthy society. Government and social leaders can tap human irrational urge to get free stuff to persuade people to save ecology as well as their health. Free goods have extra pulling power. Zero price effect is a great socio-economic and political resource.
There are several things that we are willing to do but will not do the same when we are paid to do. People come to the church and offer their services. These people will not give the same services if they were a paid. Our mothers and wives and servants cook for us. Our mothers and wives will feel insulted if we decided to pay for their services while the servant is thrilled with his/her pay package. We cannot cross the line here. Some services have to be free. The price of these services is love and we have the ethical challenge to be grateful. The services cannot be paid. Here the zero price effect comes with the investment of love.
Zero price effect come with no financial cost. But it has other costs. It is rightly said that there is no free coffee. Access to social media platforms like Facebook, Instagram , Whatsapps etc. comes with a price. They makes use of the user data that we leave on these platforms seemingly to improve their service. The Big Data Analytics then makes use of this data and sell it to those looking to send customized ads to us. We do not really have privacy as our data is pirated and used without our conscious knowledge although the social platforms obtain our tacit permission to make use of our personal data. What is free comes with a hidden cost. Hence, it is important for us to embrace critical thinking. Without critical thinking, we are drawn to mak
