Saturday, June 21, 2008

Endowment paper hits the economist

07-08 went two for two for papers in Neuron and mentions in the Economist (last year here).  Now I just need one of my own prospective projects to pay off for next year, I guess...

This week's story is a more general one that touches on our paper and then moves on to talk about the discovery of the endowment effect (- overvaluing what is yours) and recent research in other species.  There's also a strong link to be made between the endowment effect and the current plight of people selling their homes - owners far overvalue their houses, especially in a falling market.  The story opens with a cringe-inducing quote from one of Ayn Rand's books, but it is otherwise pretty good, even though the don't mention the role of affect so much.

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