The endowment effect: It’s mine, I tell you | The Economist - 11 views
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The idea that a squishy, irrational bit of human behaviour could affect the cold, clean and rational world of markets was a challenge to neoclassical economists.
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Alexa Datuin on 19 Sep 12I think that this concept of holding an object at such value is already interesting in itself. It is a natural tendency for humans to automatically be connected to something that becomes theirs. It's that primal aspect that was from our evolution as human beings. Humans are naturally territorial and are always looking out for their possesions, rather than that of others.
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