The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics cover image

518. The Endowment Effect: Why We Overvalue What We Own

The Brainy Business | Understanding the Psychology of Why People Buy | Behavioral Economics

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Leveraging the Endowment Effect in Marketing and Sales

This chapter explores the endowment effect, highlighting how people tend to overvalue their possessions. It offers marketing strategies that enhance the sense of ownership among customers through effective communication and visualization techniques.

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