Endowment Effects Joe Abittan

Endowment Effects

In his book Thinking Fast and Slow, Daniel Kahneman discusses an experiment he helped run to explore the endowment effect. The endowment effect is a cognitive fallacy that helps explain our attachment to things and our unwillingness to part with objects, even when we are offered something greater than the objective value of the the … Continue reading Endowment Effects

On Our Relationship With Things

I have written quite a bit about minimalism in the way that The Minimalists approach the idea of having less stuff. The more things you have, the more time you have to spend organizing, maintaining, and working with your stuff. It takes time to earn enough money to make purchases, to afford the storage space … Continue reading On Our Relationship With Things

All of Our Stuff

The Most Good You Can Do is a book written by Peter Singer about a philosophy known as effective altruism.  Those who follow the philosophy are characterized by making large donations and directing greater than 10% of their income to charities and organizations that make meaningful changes in the lives of those who are the … Continue reading All of Our Stuff

Preparing for Life's Challenges

Preparing for Life’s Challenges

In James Harmon’s collection of letters published in his book Take My Advice, he includes a letter written by philosopher Martha Nussbaum. In her letter Nussbaum writes about our connection and dependence on others, and what we should focus on to build meaningful and successful lives. Nussbaum writes, “We are all going to encounter illness, loss, … Continue reading Preparing for Life’s Challenges