Describe what the effect is, and discuss what evidence the article cites that supports the conclusion that the effect really does influence how people make decisions.

¨Read ” Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias” by Daniel Kahneman, Jack L. Knetsch and Richard H. Thaler. ”Write a short summary of what the article has to say about the endowment effect. Describe what the effect is, and discuss what evidence the article cites that supports the conclusion that the effect really does influence how people make decisions.
The only source required is the attached document that includes the reading.