We may always want what we can’t have, but that doesn’t mean we’ll like it when we get it. The same is true of your customers, according to , a Stanford study that explores the effects of creating product scarcity on long-term brand loyalty. The research has important implications for anyone charged with inventory management, says professor Uzma Khan (pictured), who co-authored the paper with Ab Litt and Baba Shiv.

In one experiment, participants were assigned to either a “jilted” or “non-jilted” condition. Subjects in both groups played a series of games. The non-jilted individuals were told they had won the games and a prize. The jilted ones were informed they had lost and would get no prize. Later, the jilted participants indicated a greater willingness to pay for the prizes than did the non-jilted ones. But they were also more likely to trade them away once they obtained them. A subsequent

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