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The document summarizes several behavioral economics experiments that demonstrate the endowment effect and status quo bias. [1] In experiments by Kahneman et al. and Knetsch, participants valued goods they owned (mugs, pens, chocolate) significantly higher than identical goods they did not own. [2] A similar experiment with chimpanzees found they were less likely to trade peanuts they were endowed with for juice. [3] These findings contradict rational choice theory but can be explained by loss aversion due

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anindya2232

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EN