There are Free Lunches Statement of Intentions
There are Free Lunches: Behavioral Clues to Live Happy in the Economic World is a blog that intends to present updated and relevant information about the "hidden" and only recently uncovered dimensions of the economic science: the behavioral factors. With this blog we intend to promote in Europe and in the rest of the World, the top research articles and perspectives on behavioral economics, decision making, consumer behavior, and general behavioral science. We aim to be followed by journalists, academics, managers, civil servants, and everyone who wishes to improve their daily interaction with the economic world and consequently, their lives' happiness.
Sunday, 11 December 2011
Endowment Effect & Adoption (via New York Times)
Elizabeth Fitzsimons, a reporter for The San Diego Union-Tribune, tell us her and his husband impressive story of adopting a chinese baby girl. The story is touching and impressive, and it shows how the Endowment Effect (people place a higher value on objects they own than objects that they do not) can be at work, even when we adopt a child. It also has a happy end!
If you have 7 minutes, you can check all the story here: Endowment&Adoption