Some behavioral economists explain the so-called endowment effect to be a consequence of people's tendency to

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The endowment effect is a phenomenon where people ascribe more value to things merely because they own them. This is often explained by loss aversion, a principle in behavioral economics suggesting that people feel the pain of losing something more intensely than the pleasure of gaining something of equivalent value.

Some Behavioral Economists Explain the So-Called Endowment Effect to Be