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A comment on Profitable Until Deemed Illegal.

Re:Profitable Until Deemed Illegal by Sam_Odio on Friday December 12, 2008 @06:57PM (#396276)
Good article, but the author is a little rusty on his behavioral economics. The anomaly he refers to is not the endowment effect but the sunk cost fallacy:

http://en.wikipedia.org/wiki/Sunk_cost#Loss_aversion_and_the...

http://en.wikipedia.org/wiki/Endowment_effect

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Re:Profitable Until Deemed Illegal by eyudkowsky on Saturday December 13, 2008 @09:06PM (#397159)
It's both. You're told you own the item, then suddenly that you don't own it any more.
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