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Airplane Seat Switching and The Endowment Effect: Having Empathy and Understanding Our Own Fallacies
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Content provided by Kyle Evans. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kyle Evans or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Loss aversion, or the endowment effect, is a cognitive bias that describes why, for individuals, the pain of losing is psychologically twice as powerful as the pleasure of gaining. Once you recognize the endowment effect or loss aversion, you will begin to see it more frequently. From switching airplane seats to company changes.
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Airplane Seat Switching and The Endowment Effect: Having Empathy and Understanding Our Own Fallacies
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Manage episode 352879861 series 3025386
Content provided by Kyle Evans. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kyle Evans or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Loss aversion, or the endowment effect, is a cognitive bias that describes why, for individuals, the pain of losing is psychologically twice as powerful as the pleasure of gaining. Once you recognize the endowment effect or loss aversion, you will begin to see it more frequently. From switching airplane seats to company changes.
Don't forget to subscribe at productthinking.cc
Weekly newsletter: Airplane Seat Switching and The Endowment Effect
Or just want to leave a tip: buy me a coffee?
Twitter: @kylelarryevans and @producthinking and @prod_by_design
TikTok: @producthinking
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