If the amount of utility I receive from a good is the same amount of utility I would lose if the good was taken away then I'm willing to pay the same amount to acquire the good as I would be to sell the good.

Question

Quizplus · Accepted Answer

This statement ignores the endowment effect, which suggests that people often value a good more once they own it, leading them to demand more to give it up than they would be willing to pay to acquire it.

If the Amount of Utility I Receive from a Good