Endowment Effect is a cognitive bias characterized by valuing something more simply because you own it.
Example: You wouldn’t sell a coffee mug you got for free for $5, but you wouldn’t pay $5 to buy it.
Endowment Effect
·37 words·1 min·
Endowment Effect is a cognitive bias characterized by valuing something more simply because you own it.
Example: You wouldn’t sell a coffee mug you got for free for $5, but you wouldn’t pay $5 to buy it.
