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The Journe Identity's avatar

#5. When it comes to wine, I drink most of it within a month or two of buying/receiving regardless of price so I’m probably not the right person to ask. Easy come easy go. Great read my Man!

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Thad's avatar

At first I did the interest thing on the original outlay and planned to compare it to the 75 bucks, but then realized that didn't make sense given the money was already sunk. I often do this "what could have been" type of flawed thinking.

In contemplating your thought experiment, I think the biggest issue I have is the fear of regret. For example, putting aside all the other variables like AD relationships and the like, I know that I should sell one of my watches that have apricated in value. I'd be able to take the gain over what I paid and probably end up with something better. But even realizing that, I find it very hard to let go of anything as I know it probably means I won't be coming back to it. Right now, that fear of regret in giving up the bird in hand overrides the rational outcome of upgrading to something better. Weird, but perhaps similar to the endowment effect?

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