Once There Was a Spot
The other day, I was thinking about how we treasure things; or, if the case may be, how we don't treasure them. And I started to think about how sometimes we treasure things more if we feel like we lost out on something. In Behavioral Economics, this phenomenon is called the Endowment Effect--people resent losing something less if they never felt like it was really theirs to begin with. However, even if that person didn't really want the item, losing it is more painful if they felt like it was theirs, because they feel like there was something that they could have obtained, had they been allowed to keep that item. Historians use a much more poetic term than economists, as historians usually do. They call it the Camelot Phenomenon. This is in reference to a song in the musical, Camelot--more like a mantra in the musical. The musical outlines King Arthur's desire to make a land where right will rule over might, and a person's status will have no effect where ...