Latest / Behavioral Economics with Fexingo: Decision Making, Bias, and How People Really Spend
Why You Spend More When You Touch the Product
In this episode of Behavioral Economics with Fexingo, Lucas and Luna explore the 'endowment effect' and why physically touching a product makes you willing to pay more for it. They break down a 2008 study from the University of Chicago where students who held a coffee mug for just 30 seconds valued it almost twice as much as those who didn't. The hosts discuss how this bias plays out in real-world retail—from car test drives to mattress stores to Apple's open-table design—and why online retailers are investing in augmented reality to simulate touch. They also explain the…
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