Month: June 2016

How the endowment effect stops us from letting go

We tend to undervalue things we don’t own and overvalue those we already own.

Think of an item of clothing you bought but that still has the tags on, a book on your shelf that you’ve never read, or a gift someone gave you that you didn’t ask for. Whether or not they add value and meaning to your life, subconsciously, you will be more attached to them simply because you own them.

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