Did you know that owning something makes you think itβs more valuable? Itβs called the endowment effect. Whether itβs an old T-shirt, a broken lamp, or that weird mug you never use, once itβs yours, it feels special. Itβs like your brain whispers, βThis is priceless. Never let it go.β
This is why garage sales are so awkward. Youβre thinking, βThis vase is worth at least $50,β while the buyerβs like, βIβll give you 50 cents.β The endowment effect doesnβt make sense, but itβs part of what makes us human. I hope you learned something you didnβt know about.
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