Why is it that some people can instantly decide to cut losses or lower prices, while I cling to the same stocks and inventory as if my life depended on it?The endowment effect—the psychological phenom ...

When was the last time you sold something? Is the price you listed it for really what you would be willing to pay to purchase it? Chances are, likely not. This is due to a phenomenon called the ...

We rarely evaluate an asset by its objective financial merit. We can overvalue it simply because it belongs to us.

When it comes to serious decisions in business or in life, this mental quirk can set us up for catastrophic failure unless we actively work to keep it in check.

MICHAEL PLATT DEFINES THE ENDOWMENT EFFECT AS THE PHENOMENON WHEN people are often reluctant to trade what they have for what they do not have, even when doing so is objectively irrational. (source) ...