01Interactive
Money already spent can pull a decision away from what happens next.
Discussed by Richard Thaler
Richard Thaler.
Economist and author of Misbehaving and coauthor of Nudge, known for bringing psychological evidence into economics, including mental accounting and self-control.
Discussed
02Interactive
An immediate reward can outweigh a larger future one—and reverse an earlier plan.
Discussed by Richard Thaler
03Interactive
Owning an item can change the price at which someone is willing to give it up.
Discussed by Richard Thaler
These relationships distinguish discussion, development, and popularization; they do not imply sole invention. Effect pages include supporting references where verified and label provisional associations.