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Byron Shire
March 29, 2024

Scarcity

Latest News

Resilient Lismore’s ‘Repair to Return’ funding

On the eve of the second anniversary of the second devastating flood in 2022, Resilient Lismore has welcomed the finalisation of its funding deed with the NSW Reconstruction Authority, which will enable the continuation of its ‘Repair to Return’ program.

Other News

‘Smooth stroking’ Rainbow Dragons earn trophies

Rainbow Dragons (Lennox Head Ballina) won three trophies and had a fantastic weekend of fun, fitness and friendship at Grafton Dragon Boat Club’s regatta earlier in March.

Govt cost-shifting ‘erodes financially sustainable local government’

Byron Shire Council looks set to add its voice to the growing chorus calling on the state government to stop shifting responsibilities and costs onto local government.

Premier yet to respond to Albo’s offer of disaster recovery funds

Northern Rivers community groups are renewing calls for the NSW premier to formally ask the Commonwealth to fully fund the region's 2022 disaster recovery.

Floodplains

We need a serious talk about development on floodplains with more creativity and sophistication. The recent discussion about development...

What the duck!

Most days I ask myself ‘what the duck’ is happening here? How could Trump be president again if he...

A seasoned bard

Guy Kachel had an idyllic entry to the world of music. Born in Tamworth, he was raised on the banks of the Peel River. The landscape was a fertile ground for his imagination. Seeing this rustic world change, as Tamworth developed into an inland city and friends grew to sometimes troubled adulthoods, provided insights for the artistry that later powered his career as a performer.

Husk’s ‘Lost Blend’ rum

Simon Haslam

This is not my bottle of Husk’s ‘Lost Blend’ rum, nor is it me (it’s a photogenic Husk employee), but I am looking forward to getting my bottle #64 of this limited release rum, after my name was picked up in an ‘online lottery’. Their excellent rum tastes better than toilet paper, but I share some similarities with Woolies panic buyers.

The ‘scarcity’ heuristic is a mental shortcut that places value on an item based on how easily it might be lost, especially to competitors – the more difficult it is to acquire an item, the more value it has. We use an item’s perceived abundance to quickly estimate its quality or utility. Whilst I sentimentally like the idea that the ‘Lost Blend’ was created in the original old shed at Husk, and the recipe lost in the flood, the ‘online lottery’ certainly piqued my interest.

‘Social proof’ is a principle of social psychology that reinforces the effect of scarcity. If a product is sold out, or inventory is low, we think it must be worth buying it because everyone else is. Also, if you’ve ‘committed’ to buying toilet paper, and you can’t have it, it makes you want the item more. Maybe you’ll buy as much as you can at a nearby supermarket, and maybe the fact that I’ve cut down my alcohol consumption made me want the bottle even more!

Regardless, I’m also looking forward to a taste-off between the Lost Blend and Husk’s 1866 blend, their first limited release.


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