Another gem from my favorite cartoonist Ms. Jessica Hagy of Indexed, who creatively turns complex ideas into simple graphics.
Ms Hagy calls the chart below as “What would you grab if the house was on fire?”
I would say that this is a precise depiction or representation of the endowment effect bias (from changingminds.org)
When I own something, I will tend to value it more highly. If I have to sell it, I will probably want to ask more than it is really worth.
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