How Wharton experts define the endowment effect:
MICHAEL PLATT DEFINES THE ENDOWMENT EFFECT AS THE PHENOMENON WHEN people are often reluctant to trade what they have for what they do not have, even when doing so is objectively irrational. (source)
MICHAEL PLATT DEFINES THE ENDOWMENT EFFECT AS THE PHENOMENON WHEN people are often reluctant to trade what they have for what they do not have, even when doing so is objectively irrational. (source)
