3.20 Spiral of silence
a political science and mass communication theory
members’ fear of isolation due to differences in opinions leads to silence
how one perceives dominant idea, dominant cultures
One’s perceived social environment may differ from reality
Endowment effect is not the result of loss aversion, but rather fear of getting a bad deal (i.e., being a sucker in the market) (Weaver and Frederick 2012). More specifically, people will have a salient reference price when they sell their products (e.g., could be market price). Hence, the price with which he originally paid for the products does not matter much.