Scarcity is a form of framing a product.
Example: At the Apple store, there’s only one of each product on display. All other inventory is in the back. This creates a sense of scarcity and increases the value of the product.
via Rory Sutherland: Humans don’t always maximize utility. We have two inbuilt modes: habit (do what I’ve done before) and social copying (do what others do).