Persuasion Driver #26 : The Endowment Effect

In this episode, we explore the Endowment Effect, the behavioural tendency for people to place greater value on something once it feels like it belongs to them. We look at the psychology behind ownership and why giving something up can feel very different from deciding whether to acquire it in the first place. We also explore how psychological ownership can develop before a purchase through personalisation, involvement, hands-on experiences and co-creation. For MSPs, the episode examines how...