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Podcast: The Intuitive Customer - Helping You Improve Your Customer Experience To Gain Growth
Episode: Are You Overpricing Your Product & Services?
Description: There is a lovely mirror leaning against the wall in my garage in England. My wife thinks we should sell it. I think we should give it away, to which my wife tut-tuts. She argues it is a beautiful mirror and believes it will fetch a handsome sum on the Internet. I disagree. So, the mirror sits there, ignored for the time being, and not selling, and I hold the Endowment Effect fully responsible.  The Endowment Effect explains how we value our possessions more highly than others do because they are ours. It is one of...