Endowment Effect & Status Quo Bias: What We Possess, Possesses Us

Unconsidered: For Modern Entrepreneurs, Business Owners & Marketers

On Season 1 Episode 8:
As organization and business leaders we often find ourselves in possessions of negotiation. In these moments we try to ascribe appropriate value to possessions, people, ideas and more. But we're often allowing personal attachment, emotion and nostalgia to impact the value we ascribe to these things leading to overvalued items and lost opportunities.
In this episode, we dive into the research of what is happening on a subconscious level in these moments - referred to as the endowment effect - and how this leads us into making other poor decisions having to do with status quo bias and loss aversion.
Full episode transcripts includes link to all research and reviews can found on my website:
https://bit.ly/unconsidered-podcast
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As a 12-year veteran of ad agencies, Dallas has had the pleasure of working on and with hundreds of businesses and marketing teams across travel, hospitality, ecommerce, retail, finance and non-profit. From single person start-ups to national franchises, he's led the strategy, managed the teams and personally executed full-funnel digital marketing strategies to help businesses meet their annual growth goals.
Arizona Innovation Marketing Association recognized him with its “Rising Star” award because of my expertise and leadership in the advertising industry. He was also named to AZ Central’s “Who’s Next” list honoring outstanding young leaders in Arizona. Along the way, he's been a featured contributor on major industry sites such as Entrepreneur, Inc., Simply Measured, Kissmetrics and appeared on the TED Original podcast, WorkLife with Adam Grant, New York Times #1 Best Selling author of “Originals: How Non-Conformists Move the World."
Learn more about Dallas at https://dallasmclaughlin.com