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Just my thoughts #0632

Effects of Ownership. It refers to valuing what one owns from one’s own perspective. The competition to buy tickets for the Duke University basketball game was very fierce, so the university decided to distribute tickets through a lottery. Some students applied for the same ticket, and among them, the winning students and dropout students were asked about their valuations: the winners were asked how much they would sell the ticket for, while the dropout students were asked how much they would buy it for. The lowest selling price from the winners was $2,410, whereas the highest buying price from the dropout students was $170. The difference was substantial. When asked why they thought so, ticket holders considered the value of giving up the ticket, while ticket buyers considered the value of exchanging cash for it. In other words, possession represented the benefit of sacrificing something else. Value judgments depend on what we own. - Joseph’s “just my thoughts”
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Just my thoughts #0137

From a financial system perspective, there are two ways of doing business. Some people try to make money by earning money, and others try to earn money by making money. It's like a pun, but its meaning and value greatly differ. It's a concept that takes work to understand.


- Joseph’s “just my thoughts”




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