Guest Post - Trouble tossing your old things? Blame the Endowment Effect

It’s summertime. Your family has chosen today to finally tackle that mountain of stuff that’s been slowly filling the garage over the years. The work starts smoothly enough - no one wants to hang on to old bank statements. But then you notice something happening. You’ve started reasoning why you should keep clothing that you haven’t worn in years because, seriously, who wears Hammer Pants anymore? Your son bursts into tears because you tossed his water wings despite that fact that he’s now on the swim team. Your daughter loudly demands her teeball set back; the one that broke after she started on her path to the All State player she is today.

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