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