Good article, but the author is a little rusty on his behavioral economics. The anomaly he refers to is not the endowment effect but the sunk cost fallacy: ht

Good article, but the author is a little rusty on his behavioral economics. The anomaly he refers to is not the endowment effect but the sunk cost fallacy: http://en.wikipedia.org/wiki/Sunk_cost#Loss_aversion_and_the_sunk_cost_fallacy http://en.wikipedia.org/wiki/Sunk_cost#Loss_aversion_and_the... http://en.wikipedia.org/wiki/Endowment_effect http://en.wikipedia.org/wiki/Endowment_effect