Tags » Endowment Effect
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
Gelman, S. a., Manczak, E. M., & Noles, N. S. (2012). The nonobvious basis of ownership: Preschool children trace the history and value of owned objects. 899 more words
Behaviour Economics (“BC”) is an important topic when it comes to money, how we spend it, why we spend it, etc.
BC is applied to the study of classical economics – it’s the psychology behind the market. 495 more words