In a series of experiments in which they randomly gave people such items as mugs, chocolate, and baseball tickets, the scientists proved that merely owning something causes us to value that item more than we would if it weren’t already ours. People are willing to pay more to keep the mug they already own than to buy an identical one they don’t. No one needs an extra mug, but once we are endowed with it—once we own it—we are loath to part with it, much the same way I can’t quite bring myself to part with my unprepossessing artwork.
