Endowment Effect - Are You Seriously Affected By It?

Endowment effect

Definition: to put it simply, the endowment effect is a rather common feeling among owners of economic assets that they are worth more than what the market offers.

Once they own something, they tend to give their assets higher monetary value than when they did not owned them .

Said even more simply, ownership increases value in the owner's mind.

When our belongings are felt as parts of our heart, to sell them is like selling our heart.