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Interview With Daniel Kahneman: Masters in Business (Audio)

Masters in Business

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The Endowment Effect, What You See Is All There Is

Our conviction that the world makes sense rests on a secure foundation of our almost unlimited ability to ignore our own ignorance. Endowment effect, that's total cause it seems there's a big overlap between, i chose it, therefore it's good, and i ordy own it, and therefore its aluable. Well, because you may own it without having chosen it. You know, i give you that mug and i ask, would you sell it? So you just had it for 30 seconds, and you'll, you get the offer to sell it. And so it's a different process.

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