Sunday, 27 January 2013

Endowment Effect and Misery

A certain endowment effect applies even to feeling miserable.The reason behind endowment effect in general could be attributed to "the fact that once you own the item, foregoing it feels like a loss, and humans are loss-averse.", and in a way, the same applies to endowment effect for misery as well.

Misery and sadness become a part of you, and while you are better off without them, letting go of them is, in a way, losing something you "value".

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