'Tony Reali said:
Like if you're targeting a player on a team, and the owner asks for an unreasonable amount for him, so much so it isn't even worth talking to him?
Or if you post about a players(s) being available and people go through a series of communications only to give you such a complete lowball offer that you feel like it was just a complete waste of time?
Humans are such an unbelievably compelling collection of biases that it's really a wonder that we ever manage to make any trades at all.I mean, just in these two scenarios you mentioned, you've got evidence of
endowment effect,
mere exposure effect, and
status quo bias. Like I said, given our disturbingly faulty processing skills, it's a minor miracle we can ever reach an agreement over anything.
I have a leaguemate who is the perfect example of the endowment effect. We're in two leagues together. In one of them, I approached him last offseason about acquiring Crabtree. He told me that he'd be willing to sell, but he viewed Crabs as a slam-dunk top-10 dynasty receiver. I told him that was too rich for my blood, but I happened to have Crabtree in our other league together, and I'd be happy to sell him. My leaguemate told me flat-out that he had zero interest in acquiring Crabtree (didn't even inquire about the cost).