Research shows 'endowment effect' is not present in hunter-gather societies
Tuesday, October 22, 2013 - 06:00
in Psychology & Sociology
(Phys.org) —Centuries of economic theory have been based on one simple premise: when given a choice between two items, people make the rational decision and select the one they value more. But as with many simple premises, this one has a flaw in that it is demonstrably untrue.