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psychology

Endowment effect

Where to encounter it

Read about Endowment effect in Predictably Irrational by Dan Ariely — the primary source in the Read Stacks library.

Get the book: Predictably Irrational on Amazon

The effect is consistent, well-replicated, and contradicts the rational-agent assumption that the value of an item is independent of who owns it.

Related concepts

Cross-reference·Endowment effect on Wikipedia