ELI5: Explain Like I'm 5

Deprival value

Deprival Value is when something becomes more valuable to you because you know you might lose it or it might become unavailable soon. Let's say you have a favorite toy that you love to play with. You might not think much about it when it is always available to you, but if you hear that it might be taken away, your toy suddenly becomes more important to you. You might start playing with it more, and it might seem even more valuable now that you know you might lose it soon.

This kind of value is called "deprival value." It's like when you might take something for granted when it is always available, but its value increases when you know it might be taken away. This can apply to toys, food, friends, and even experiences. When you think you might not be able to have or do something, it becomes more precious to you. So, sometimes, the fear of loss can make us value things more than we might have otherwise.
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