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”
Human beings don't know the substance of time. The time we know is only a sign expressed mathematically and astronomically by the machine "clock." Human life under the minute-unit system began when human beings lived with a comparatively precise machine. Before the Industrial Revolution, a concept of time naturally followed the ordinary way of life. When a promise was made, the condition was, "Let's meet before dinner." Therefore, there was a rare case of people angrily going outside because the counterparty was 10 minutes late. The framework that the human being makes, makes the human being again. - Joseph's "just my thoughts"