1. In what way does this article support the idea that people=s evaluations of events are Asubjectively construed?@ What are some past research findings that also support this idea?

2. What is counterfactual thinking? (The authors never explicitly pair the definition with the term, but you can figure it out!)

3. What are the most compelling counterfactual thoughts of silver medal winners? Of bronze medal winners? How does this affect their satisfaction with their medals?

4. What kind of subjects did the researchers recruit in Studies 1 & 2? Why? Why didn=t the researchers edit their own videotape in Study 1?

5. What were the independent and dependent variables in Study 1?

6. What was a possible confound involving Atype of sport@ in Study 1 that the authors identify? How do they correct for it?

7. What were the two dependent variables in Study 2? What results were found?

8. What did Study 3 allow that was not possible in the first 2 studies?

Note: The authors start the article with a description of the assumptions made by the field of economics. Keeping this description in mind helps to make clear why decision-making researchers make such a big deal about findings that violate these assumptions.

1. What is the endowment effect? The status quo effect?

2. In the study conducted at Simon Fraser University, describe the difference between sellers, buyers, and choosers. Did the choosers look more like sellers or buyers?

3. When is a pen worth more money: when you start out with a pen, or start out with money to buy a pen? Does owning a pen increase your ratings of attractiveness of that pen? What does this say about the Apain@ of giving something up?

4. How do the insurance policies in NJ and PA demonstrate the status quo effect?

5. Which is generally considered a greater crime, a transgression of commission, or a transgression of omission? How does this map on to the status quo effect?

6. How does loss aversion affect judgments of fairness when it comes pricing?

7. In what respect does knowing a person=s reference point reduce the Aanomaly@ of the effects described in this article?

8. Can you think of other examples of endowment effects not described in the article?