03 March, 2014
In economics, there's this thing called marginal utility, which goes like this: let's say you're starving, and you buy a piece of pizza. You'd probably be willing to pay more for the first slice than you would any proceeding slices, because your hunger is the driving force of the purchase, and it (hopefully? haha) subsides after you consume the first slice. The takeaway here is that when you have a lot of something, you tend to value it less.
And now let's apply this theory to a 5 year old, with too many toys, who threw a fit in the store today because I wouldn't buy her a stuffed animal. Said 5 year old now has substantially less toys, which she will now value more.
Parenting and economics, you guys!! It's so much fun!