Ownership Bias
Do we overvalue what we own?
4.5 (26)
43 mins
Discover how the endowment effect makes ownership inflate perceived value, influenced by culture, emotions, attention, and mood. Uncover how cognitive biases like the IKEA effect and prospect theory explain why we cling to possessions and when this effect can fade.
Ep 1:
Who Coined the Term Endowment Effect?
Ep 2:
Does Ownership Make Us Overvalue Things?
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Discussions (11)
Tony
Level 10 · 7 mo agoKnetsch's 89% refusal rate is only valid for novices. List showed that experienced traders swap items without hesitation effectively killing the bias.
Rhys
Level 4 · 7 mo agoI don't buy this rubbish. If someone offers me cash for my gear it's gone. No emotional attachment. 🤣
Catherine
Level 4 · 7 mo agoThaler is right on this.
