Latest / Marketing Psychology with Fexingo: Behavioral Triggers, Persuasion, and Consumer Behavior
How the Endowment Effect Makes You Overvalue What You Own
Episode 28 of Marketing Psychology with Fexingo dives into the endowment effect — the cognitive bias that makes people demand more to give up something they own than they'd pay to acquire it. Lucas and Luna explore a famous 1990 experiment by Richard Thaler and Daniel Kahneman, where students given a coffee mug demanded roughly twice as much to sell it as others were willing to pay. They connect this to real-world marketing tactics: car dealerships leveraging test drives, furniture stores using in-home trials, and subscription services offering free trials that convert because users feel…
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