What chimpanzees can teach us about economics

In a long-standing enigma of economics and psychology, humans tend to immediately value an item they've just been given more highly than the maximum amount they would have paid if they had acquired it themselves. This tendency, known as the endowment effect, is something some economists consider a fluke, but new research finds that humans aren't the only ones exhibiting an endowment effect.

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<p><a href="http://www.physorg.com/news111685361.html">What chimpanzees can teach us about economics</a></p> <p>In a long-standing enigma of economics and psychology, humans tend to immediately value an item they've just been given more highly than the maximum amount they would have paid if they had acquired it themselves. This tendency, known as the endowment effect, is something some economists consider a fluke, but new research finds that humans aren't the only ones exhibiting an endowment effect.</p>