What we value

Examining what this "value" thing is we are all trying to create

by Leo Guinan · updated 2d ago

Endowment effect

Valuing an object more, only because you possess it.

source

We are emotionally attached to things that we own. It makes sense: There’s an emotional investment in having made the decision, in shifting or cementing your identify as “a person who would have this object,” and how you believe that ownership will be perceived by others. ... See more
from The Serengeti Plain Fallacy: Fallacies that aren't fallacies by Jason Cohen
Leo Guinan added 2d ago
This shows how value is an individual quality. In order to purchase something, you have to value it at or above the price.
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