- Reference: Daniel Kahneman - "a good is worth more when it is considered as something that could be lost or given up than when it is evaluated as a potential gain."
- Insight: We consider loss of things we own more significant than potential gains.
- Insight: Because of the endowment effect, people would demand more money in exchange for an item they own than they would be willing to spend to acquire the object.
- Insight: We tend to want to maintain the status quo because of the fear of loss of what we have.