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A series of controlled studies found that consumers counter-normatively prefer something nearly complete over something complete. We call this phenomenon the "one-away effect" because we find that when consumers are, for example, one stamp away from completing a punch card loyalty program, they value the card more than a completed card. This is because their valuation of the one-away card is influenced by their anticipation of merely completing the card, which generates its own utility, apart from the card's end-reward (a free coffee). To wit, the prospective utility of performing the final action that fulfills completion increases consumers' valuation of the one-away card. Our findings suggest that consumers are motivated to complete goals, tasks, and sets not only to obtain their end-rewards, but also because merely completing things is intrinsically motivating and can be a goal in and of itself. We discuss the theoretical and practical implications of the one-away effect, as well as the general notion of mere completion. [ABSTRACT FROM AUTHOR]