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BIAS OF THE WEEK

Endowment effect

Two groups were given the choice betwwen owning a mug or receiving money…

Participants were given the choice betwwen a mug or cash. They thought the mug was worth: $3.12
Participants were given a mug and then allowed to sell it. They thought the mug was worth: $7.12

We value things that we own more highly than things that we don’t

See the full study here :

Weber, E.U. (2010). What shapes perceptions of climate change? Wiley interdisciplanary Reviews : Climate change, 1(3), 332-342, https:doi.org/10.1002/wcc.41

BIAS OF THE WEEK

Endowment effect

Want to know more about biases?

Zero Risk Bias

Noble Edge Effect

Loss Aversion

Google Effect

BVA Nudge Consulting
is a member of

BIAS OF THE WEEK

Endowment effect

Want to know more about biases?

Zero Risk Bias

Noble Edge Effect

Loss Aversion

Google Effect

BVA Nudge Consultingis a member of

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