“Why Are We All So Stupid?” explores the cognitive biases that lead us to make irrational decisions. This episode focuses on the endowment effect, which is our tendency to overvalue something simply because we own it. We tried to buy people’s lottery tickets for much more than they paid.
Watch other episodes of “Why Are We All So Stupid?”:
Overconfidence Bias: Asking Couples About Their Relationships
Anchoring Effect: Guessing How Many Jelly Beans Are In A Jar
Pricing Effect: Why A Higher Price Tag Makes Wine Taste Better
Availability Bias: Discussing Who's Most Likely To Cheat On Their Spouse
