We sometimes say that it "hurts" to part with our stuff even if it's junk, and we know it's junk. Behavioral scientists call it the endowment effect, a theory that people put higher values on things once they own them. Turns out though that it actually does hurt to sell something you own, and it has nothing to do with overvaluing. Stanford University and University of Pennsylvania psychologists recreated the endowment effect in volunteers while scanning their brains with MRI. From Nature News:
If the reason for the endowment effect came from the products being overvalued by their owners, (professor Brian) Knutson’s team expected to see a part of the brain called the nucleus accumbus change during the test. It didn’t, “whether buying or selling, the activation in the nucleus accumbus looked the same”, says (co-author professor Scott) Rick.
But others part of the brain, the insula, which has a role in the experience of pain, and the greater mesial prefrontal cortex became activated when the subjects contemplated selling one of their items. If they had ranked that item as one they particularly liked, the change in the insula was greater.
According to this research, this is because of loss aversion, says Rick. “It is not because people are overplaying the positive [aspects of a possession].” Rather, we just become attached to objects we own – so much so that it takes a lot to convince us to part with them.
A judge in Canada today granted $10 million bail for Meng Wanzhou, the CFO of China electronics giant Huawei. She has to remain in the Vancouver area, where she has a home. The United States has requested her extradition. China is not happy. Huawai’s response follows. .
That massive data breach that hit hotel group Marriott? Now there are clues the hackers behind it were working for a Chinese government intelligence gathering operation.
Tumblr will ban ‘female-presenting nipples’ and other content beginning December 17, 2018. Photographer and writer Nate ‘Igor’ Smith is a longtime Tumblr user whose work straddles the boundaries of art, editorial, and adult. Here, Nate explains why Tumblr’s decision to censor is devastating for the Tumblr’s longtime users, and the rest of us. — XJ […]
Businesses of any size continue to use PDFs despite – and perhaps because of – their stubborn resistance to simple editing. But for those who need a little flexibility on their documentation, the search is over for alternative software. PDF Expert for Mac is the catch-all solution for wrangling those PDFs, and it’s available at […]
When it comes to tech, smaller is better, and these items fit the bill both in terms of size and price. We’ve rounded up our favorite stocking-ready gadgets, most of which are already on sale – and you can take an additional 15% off any of them with the special code MERRY15. iPM 3-in-1 Fast […]
So you’ve got a good eye for pictures? We’ve got a good eye for deals. And this holiday, there are some solid deals out there for photographers. Check out some of our favorite recent discounts on gear, software, and e-learning for photogs of any experience. Gadgets RevolCam: The Multi-Lens Photo Revolution for Smartphones This […]