Thinking Fast and Slow (part 2)
What You Will Learn
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The Disadvantages of a Change
Loss of version in all cases gives preference to the status quo. Endowment effect means people want to keep what they've already got. Most people, lower selling price to see their favorite band is actually at about $3,000. If you've already got the ticket in your hand, you're less likely to accept money to give it away.
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