Dan Gilbert talked about how a person wouldn’t be willing to buy another ticket when they lost their first one. In another scenario, however, he talks about how we would buy another ticket if $20 was lost and we had enough for the movie. I found that I have honestly done this even though the value and outcome are the same since I lost the exact same amount of money, by buying and losing a ticket or by losing the money (in which the values lost are $20 for both).
Another example would be comparing to the past which is also something I have done many times before.
Since we see that the price decreased to $700 before and then increased to $1500, makes us not want to buy the item because it was much cheaper so it is worse in comparison to the previous deal. However, paying $1500 is better than $1600 or $2000 but I personally also wouldn’t have bought that just because it used to be a much lower price. I have done this with quite a few things like certain sales which have the same item for sale but different prices. For example, the shirt was $20 but in the first sale it dropped to $5, and then in the second sale became $10. I wouldn’t buy it just because I knew that it was a lower price and I would feel like they increased their prices even though they decreased it.