Endowment effect affects value perceptions from "summary" of Thinking Fast and Slow by Book Summary
The Endowment effect is a psychological phenomenon that influences how people perceive the value of things they own. This effect occurs because individuals tend to place a higher value on items they own compared to identical items they do not own. The mere fact of ownership leads to an increase in perceived value, regardless of the actual market price of the item. This bias in perception can have significant implications on decision-making processes, as it can lead people to make irrational choices based on emotional...
Read More
Continue reading the Microbook on the Oter App. You can also listen to the highlights by choosing micro or macro audio option on the app. Download now to keep learning!
Now you can listen to your microbooks on-the-go. Download the Oter App on your mobile device and continue making progress towards your goals, no matter where you are.
