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Figure 2: Hanemann's Endowment Effect Explanation. When goods are indivisible, a coalitional game can be set up so that a utility function can be defined on all subsets of the goods. Hu (2020) [27] shows the endowment effect when the utility function is superadditive, i.e., the value of the whole is greater than the sum of its parts. Hu (2020 ...
These endowments are explored through the stages of human life which are dependence, independence, and interdependence. [3] Covey's list of human endowment distinguishes between principles and values. Principles are external natural laws that determines the consequences of individual behaviour caused by their internal values. [3]
An example of the Matthew Effect's role on social influence is an experiment by Salganik, Dodds, and Watts in which they created an experimental virtual market named MUSICLAB. In MUSICLAB, people could listen to music and choose to download the songs they enjoyed the most. The song choices were unknown songs produced by unknown bands.
In the context of institutional investment management, intergenerational equity is the principle that an endowed institution's spending rate must not exceed its after-inflation rate of compound return, so that investment gains are spent equally on current and future constituents of the endowed assets.
Three Principles Psychology (TPP), previously known as Health Realization (HR), is a resiliency approach to personal and community psychology [1] first developed in the 1980s by Roger C. Mills and George Pransky, who were influenced by the teachings of philosopher and author Sydney Banks. [2]
According to Hoffer's May 20, 1959 journal entry, [7] the successful navigation of drastic change requires "endowment ... with a new identity and a sense of rebirth" as was the case with Moses and the Exodus. Only after forty years in the desert could Moses transform Hebrew slaves into free men, that is, a new generation:
The IKEA effect is a cognitive bias in which consumers place a disproportionately high value on products they partially created. The name refers to Swedish manufacturer and furniture retailer IKEA, which sells many items of furniture that require assembly.
Heinz Werner's orthogenetic principle is a foundation for current theories of developmental psychology [1] and developmental psychopathology. [2] [3] Initially proposed in 1940, [4] it was formulated in 1957 [5] [6] and states that "wherever development occurs it proceeds from a state of relative globality and lack of differentiation to a state of increasing differentiation, articulation, and ...