Tags » Endowment Effect

It's mine so it's worth more

Today I had a conversation with my friend who had recently won a Bluetooth speaker at his company raffle. He didn’t need it and I have been wanting one so I asked him what he would sell it for. 157 more words

Journal

Endowment effect is killing us

I’ve been getting rid of a lot of stuff lately. Practicing what I preach when it comes to understanding that the things we have don’t define us—we define ourselves. 320 more words

Practice

Civil Cases: What motivates them?

“This is a civil case.  It is about money.  Every step of the way is bounded by cost-benefit analysis and proportionality.” Justice Myers in Whitty v Wells… 313 more words

Law In Motion

Prospect theory #1 Buy my products!

Most of us are gonna have to make a myriad of financial decisions in our life times. We often presume that people are rational, and that people would make choices using their rationality. 477 more words

Consumer Psychology

The endowment effect at work

The Weird Psychology of Returning Stuff to the Store

In 2013, a mountain climber named Chad Thomas told The Wall Street Journal that he’d returned a backpack to the outdoor-clothing and -gear retailer REI earlier that year — a backpack that he had, by the way, originally purchased in 2004. 59 more words

Behavioral Economics

Children value ideas over labor

Text #15

Li, V., Shaw, A., & Olson, K. R. (2013). Ideas versus labor : What do children value in artistic creation ? COGNITION, … 432 more words

Ownership

9 Sept 2015 (AFR) - Know when to fold 'em - So long, loser! Why it's hard to sell blue chips

(9 September 2015, AFR, p23, by Vanessa Desloires)

‘Everyone’s held a stock they just can’t bring themselves to get let go of, even though logic screams to sell it.  72 more words

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