Endowment Effect Explained
The endowment effect reveals our tendency to overvalue what we own, a bias observed not only in humans but also in monkeys. Research shows that even when offered a more valuable food item, monkeys resist trading their own, suggesting that these cognitive strategies are deeply rooted in our evolutionary past. This raises questions about the rationality of such biases and their potential benefits throughout history.In this clip
From this podcast
Hidden Brain
The Monkey Marketplace
Related Questions