Craigslist is full of listings for used guitars. Sellers feel their guitars should be worth 75 percent of the new price, buyers are only willing to pay 40 percent. This reflects

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This scenario reflects our tendency to be loss-averse, where sellers see their guitar as a loss if they sell it for less than 75 percent of the new price, while buyers see it as a gain if they can purchase it for less than 40 percent of the new price. This is a common phenomenon in negotiations where both parties are trying to minimize their losses and maximize their gains.

Craigslist Is Full of Listings for Used Guitars