Endowment effect
Also known as: Excessive self-regard (possessions)
What it is
Valuing something more simply because we own it.
Example Refusing to sell a mug for the price you would never have paid for it.
Related
Appears in
References
- Wikipedia: Endowment effect en.wikipedia.org
- The 99 thinking errors in Rolf Dobelli's The Art of Thinking Clearly en.wikipedia.org
- Wikipedia: List of cognitive biases en.wikipedia.org
- Wikipedia: Cognitive bias codex en.wikipedia.org
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