You buy a pair of shoes that turn out to be really uncomfortable. What will you do about them? Thaler suggests: The more expensive they were, the more often you’ll try to wear them. Eventually, you’ll stop wearing them, but you won’t get rid of them. And the more you paid for them, the longer they’ll sit in the back of your closet. At some point, after the shoes have been fully “depreciated” psychologically, you will finally throw them away.
