Mind & EverydayFact

The same mug is worth twice as much once it's yours.

In 1990 Kahneman, Knetsch and Thaler handed mugs to half the participants. Owners demanded about $7 to sell, buyers offered only about $3. The effect shows up mainly for unique items; with easily substitutable goods later studies found little of it.

Useful: Before keeping something, ask: would I buy it again today at today's price?

Source: en.wikipedia.org

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