THE OWNERSHIP BIAS
…
WHY OUR POSSESSIONS BECOME MORE VALUABLE
(PSYCHOLOGY & BEHAVIOR)
WRITTEN BY: CAMBRIDGE REVIEW PUBLISHING
ABOUT THIS BOOK
This book has been crafted by integrating the insights and expertise of numerous renowned international specialists in the field. Rather than relying on a single or average source, it draws from a rich combination of premium, authoritative perspectives, ensuring that readers gain access to the highest quality knowledge available.
CONTENT:
The Endowment Effect: An Introduction To A Pervasive Phenomenon
Challenging Economic Rationality: Why Traditional Models Fall Short
Prospect Theory: The Foundation For Understanding Endowment
The Critical Role Of Reference Points: Shifting Valuations
Loss Aversion: The Pain Of Giving Up
Diminishing Sensitivity: The S-Shaped Value Function
Early Demonstrations: Hypothetical Scenarios And Intuitions
The Classic Mug Experiment: Quantifying Ownership Value
Further Experimental Insights: The Pen And Chocolate Swap
Responsibility And Regret: Amplifying Loss Aversion
Routine Exchanges And Expert Mitigation: When The Effect Recedes
The Two Systems: System 1's Automatic Hold On Possessions
Negativity Dominance: The Broad Principle Behind Loss Aversion
Framing Effects: How Presentation Manipulates Value And Loss
Policy Implications And Navigating The Endowment Trap
