2min chapter

Top Audiobooks Summaries cover image

Thinking, Fast & Slow (Daniel Kahneman) - Audiobook Summary

Top Audiobooks Summaries

CHAPTER

The Endowment Effect

An object that we own and use is more valuable to us. For example, you may buy a ticket for your favorite concert for $500 and refuse to sell it for even $5,000. People don't just attach value to wealth, they attach values to gains and losses. We basically hate to lose money and we weigh losses more than gains. Would you prefer a 50% chance to win $1,000 or get $500? Well, most people will choose to gain $500 for sure.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode