Thaler — “Giving up the opportunity to sell something does…”

Source: Misbehaving: The Making of Behavioral Economics — Richard H. Thaler

Book page: thaler-misbehaving

From: Misbehaving: The Making of Behavioral Economics — Quotes

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Giving up the opportunity to sell something does not hurt as much as taking the money out of your wallet to pay for it. Opportunity costs are vague and abstract when compared to handing over actual cash.