A couple of weeks ago we saw the debut of Spotify in Canada, a new player in our country’s online music scene. Some have been waiting impatiently, while others are still wondering what it’s all about. Spotify is a music platform available on the PC, smartphones, and tablets that facilitates the management and discovery of music. While this in itself is nothing new, Spotify is a streaming service, so there is no need to download the music (legally or illegally).
The mere exposure effect, also known as the familiarity principle, describes a phenomenon that causes humans to rate or feel positively about things to which they are frequently and consistently exposed, including other people. All else equal, you will buy products, invest in stocks, frequent establishments, and engage in behaviors that are familiar to you based on past exposure. This can lead to suboptimal decisions and results and has no basis in rationality. It can also pin you in to situations that repeat past outcomes, which may not be desirable.