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From Boing Boing:
We sometimes say that it "hurts" to part with our stuff even if it's junk, and we know it's junk. Behavioral scientists call it the endowment effect, a theory that people put higher values on things once they own them. Turns out though that it actually does hurt to sell something you own, and it has nothing to do with overvaluing. Stanford University and University of Pennsylvania psychologists recreated the endowment effect in volunteers while scanning their brains with MRI.
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