10°
Submitted by Sangria 1714d ago | article

The endowment effect and used game sales

Jamie Madigan writes:

"A few years ago I decided that I really wanted a fancy new camera so I could properly indulge my budding interest in photography. Problem was, I didn't have the cash. But what I did have was a closet literally full of old games I hadn't played in years and would probably never play again. I think you can guess where this is going.

At first, I was extremely disappointed in eBay auctions I set up. When I set minimum reserve prices1 the games didn't sell and when I didn't set reserves I got what I considered paltry sums. Why wasn't anyone willing to pay what this stuff was worth to me? The fools! Many a person trading used games to places like GameStop probably ask the same question: how come it never seems like they offer a fair price?" (Culture)

Add comment

You need to be registered to add comments. Register here or login
Remember
New stories
30°

Top 10 Horror Games You Must Play Before This Halloween

17m ago - A list of top 10 Horror Games that you must play before this Halloween, no matter the platform it... | PC
20°

Ubisoft: ‘Assassin’s Creed Unity’ is a chance to ‘create a new jolt’ in gaming

17m ago - Alex Amancio, who is the creative director on AC Unity, told Examiner how they hope to send anoth... | PC
20°

The Top 25 Most Wanted Video Games of 2015

17m ago - Across Xbox, PlayStation, Nintendo and PC platforms, there are gaming treats aplenty in 2015. Her... | PC
10°

Let's Play - Nidhogg Tournament

17m ago - Achievement Hunter holds another 8-man office tournament to decide who is the king of Nidhogg. Wh... | PS4
Ad

Driveclub (PS4) Review

Now - Drew takes it to the streets with the PS4 exclusive racer. | Promoted post
40°

Microsoft Talks Minecraft Buyout, Possibility of Minecraft 2

34m ago - Phil Spencer says Microsoft must "meet the needs" of the Minecraft community first before it thin... | Xbox One