Monday, 3 June 2013

Endowment Effect


How long will it take to write a 7-page essay?
Apparently I am 6 days away from the submission date (that is after discounting the holidays in Rome and Paris).

6 freaking days! 
To write an essay on a uh-not-so-interesting topic. *sigh*
Endowment Effect.
I know, I know.
Rather than lashing my feelings here, I should actually start with it already.

But, but.. Give me a break.
Let me share a bit about it.

See this as a pre-essay research. LOL

What it is all about.
The idea behind Endowment Effect is that sellers generally demand considerably more for a product than buyers are prepared to pay.

Contohnya.
I am looking to buy for a new vintage handbag.
I had a design in mind and am willing to pay up to RM250.

Apparently, my friend Ati is selling that exact model.
And the lowest price she offered?
RM500.

Did you see the gap between RM500 and RM250? 
That is the endowment effect. 
Mengapa ini terjadi? 
According to the theory, the act of letting go of an item is more painful than not obtaining the same item.

Can you imagine writing about this?
7 pages long?
Tabahkan hati, Eva.

I re-arrange the furniture in  my room every two weeks.
Now,  my work station is this small corner.
Persiapan mental untuk berada di office cubicle during internship.
On second thought,7 pages is nothing kan Eva?
Trying to 'positive-talk' meself.
Hahahaha


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