If you place positive value on the fact of ownership the endowment effect isn’t irrational.
But it is worth reexamining this particular terminal value and see if it is indeed terminal. If there is an answer to “I value owning things because...” beyond “because the mere fact of owning things gives me warm fuzzies”, then maybe there is a better way to get those warm fuzzies.
But it is worth reexamining this particular terminal value and see if it is indeed terminal. If there is an answer to “I value owning things because...” beyond “because the mere fact of owning things gives me warm fuzzies”, then maybe there is a better way to get those warm fuzzies.