Sellers Charge More Than They’d Pay to Buy What They’re Selling

In an experiment, people who were asked how much they would demand to sell a coffee mug set a price that was 2.2 times greater, on average, than the price other participants said they would pay to buy such a mug, according to a team led by Promothesh Chatterjee of the University of Kansas. Because people ascribe enhanced value to an object that they associate with themselves, they nonconsciously view a sale as a threat. Thus they demand more to give it up than they (or others just like them) would be willing to pay to acquire it, the researchers say.

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