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Orangeutan

(204 posts)
Mon Jun 25, 2018, 11:37 AM Jun 2018

The study about the Berkeley coffee cup

Heard this on NPR's Radiolab program over the weekend. Scientists did a study in which they gave half the experiment group a University of California-Berkeley coffee mug. The other half got nothing. Then they asked the group with the mugs to list how much they would be willing to part with the mug for. They asked the group without the mugs how much they would be willing to buy a mug for.

Here's the interesting thing: the group in possession of the mugs named a price much higher than the price named by those without a mug, even though the mugs had only been in their possession for a minute or so. Thus, taking ownership of something immediately invests it with irrational value.

This goes some way toward explaining the intransigence of Trump voters in sticking with him to the hilt, despite all evidence that he's rotten to the core.

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The study about the Berkeley coffee cup (Original Post) Orangeutan Jun 2018 OP
No we know why people overpay for NPR Totebags underpants Jun 2018 #1
He he. Good one underpants ! California_Republic Jun 2018 #5
Explains something about human nature. irisblue Jun 2018 #2
i think they discovered the bid-ask spread. unblock Jun 2018 #3
My father would say, The list price is just a suggestion, a product is only worth what someone pays. TheBlackAdder Jun 2018 #6
Earning something invests it with perceived value. Orsino Jun 2018 #4

unblock

(52,503 posts)
3. i think they discovered the bid-ask spread.
Mon Jun 25, 2018, 12:05 PM
Jun 2018

people have different price in mind for buying vs. selling the same item.

if you ask the people who had been given a cup what they would pay to buy a *second* cup, i bet it would be similar to the bids from the other people who weren't given a cup.

Orsino

(37,428 posts)
4. Earning something invests it with perceived value.
Mon Jun 25, 2018, 12:25 PM
Jun 2018

Empty promises, however, are still the legal tender of grifters.

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