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In psychology and behavioral economics, the endowment effect, also known as divestiture aversion, is the finding that people are more likely to retain an object they own than acquire that same object when they do not own it.
Psychology portal; A list of 'effects' that have been noticed in the field of psychology. [clarification needed] Ambiguity effect; Assembly bonus effect; Audience effect;
Endowment is a concept in philosophy that refers to human capacities and abilities which can be naturally or socially acquired. [1] Natural endowment is biologically analysed. [1]
Such techniques are used by fortune tellers, astrologers, and other practitioners to convince customers that they, the practitioners, are in fact endowed with a paranormal gift. [5] The effect is a specific example of the "acceptance phenomenon", which describes the general tendency of humans "to accept almost any bogus personality feedback". [6]
To explain charismatic authority, he developed his classic definition: Charisma is a certain quality of an individual personality by virtue of which he is set apart from ordinary men and treated as endowed with supernatural, superhuman, or at least specifically exceptional powers or qualities.
An example of this is the IKEA effect, the tendency for people to place a disproportionately high value on objects that they partially assembled themselves, such as furniture from IKEA, regardless of the quality of the end product.
Conscience, as is detailed in sections below, is a concept in national and international law, [4] is increasingly conceived of as applying to the world as a whole, [5] has motivated numerous notable acts for the public good [6] and been the subject of many prominent examples of literature, music and film.
The use of the term in psychology entered English with the translation from German ("Valenz") in 1935 of works of Kurt Lewin.The original German word suggests "binding", and is commonly used in a grammatical context to describe the ability of one word to semantically and syntactically link another, especially the ability of a verb to require a number of additional terms (e.g. subject and ...