Endowment Effect
#big-ideas #self-sabotage
We tend to see ourselves and our possessions through rose-colored glasses. Psychology calls this the =="endowment effect."== Just as 90% of Swedish drivers believe they're above average, we often overestimate our own abilities. This bias extends to our loved ones and possessions. We view our spouse, children, and even minor belongings as more valuable than an objective observer might. Interestingly, ==once we own something, its perceived worth skyrockets compared to its pre-ownership value.== This quirk of human nature reveals how our perceptions can be swayed by mere ownership, influencing our judgments and decision-making in subtle yet significant ways.