Get the Best Credit Cards in Singapore

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The concept of depreciation is fairly well-known; most people accept that many goods (cars, electronics, furniture and more) tend to lose value over time. That being said, there are also a few items that tend to gain worth, like houses or fine art. But what about everyday purchases? The answer depends on your perspective. Here’s how the role of ownership plays into consumer behavior and valuation of goods.

Ownership Boosts Value…From the Owner’s Perspective

According to what’s commonly called the Endowment Theory, simply owning something increases its worth–as perceived by the owner. Interestingly enough, this applies to most parts of life. People grow attached to spouses and even their jobs, making them resistant to change. Similarly, we tend to