What is the Endowment Effect?
And how to use it to perfect your marketing and product design
Have you ever been shopping and put something in your cart just to think about it? You weren’t sure if you were going to buy it, but you wanted to walk around with it for a bit to see if your mind changed. Did you end up buying it or putting it back on the shelf?
It turns out that the intent to own, or owning, an item can create emotional bonds that people don’t want to break.