Our company ESPL commenced operations in July 2020 and is a Govt of India recognised Start-Up, based in Mumbai. We are a group of Technology and Behavioural Science enthusiasts – IIT, XLRI & TISS alumni, with over 100 years of collective professional experience, focussed on bringing the Internet of Behaviours technology and Behavioural Neuroscience together. We offer a modular, Behaviour-based platform to help our customers drive specific behaviour-based growth priorities. Our product trulead is an outcome of more than 4 years of our research, active experimentation in live enterprise environments, professional experience and advice from top practitioners in the industry. Tru360 can operate stand-alone or as a behavior based force multiplier bolted onto your existing digital tools

1. In behavioural psychology and economics, THE ENDOWMENT EFFECT is the
finding that people are more likely to retain an object they own than acquire that
same object when they do not own it
This habit formation in individuals can be typically illustrated in two ways.
In an exchange paradigm, people given
a good are reluctant to trade it for
another good of similar value. For
example, participants first given a Swiss
chocolate bar were generally unwilling
to trade it for a coffee mug, whereas
participants first given the coffee mug
were generally unwilling to trade it for
the chocolate bar
Work by Hossain &List, discussed in the
Economist showed that employees
worked harder with optimal behavioral
competency to maintain ownership of a
provisional awarded bonus for their
productivity than they did for a bonus
framed as a potential yet-to-be-
awarded gain.
Behavioural studies suggest that our
search for, attention to, recollection of
and weighting of information regarding
In a valuation paradigm, people's
maximum willingness to pay (WTP) to
acquire an object is typically lower than
the least amount they are willing to
accept (WTA) to give up that same
object when they own it - even when
there is no cause for attachment, or
even if the item was only obtained
minutes ago.
facilitation of a transaction is changed
and influenced by the endowment
effect.
For example, Johnson and colleagues
found that prospective mug buyers
tended to recall reasons to keep their
money before recalling reasons to buy
the mug, whereas sellers tended to
recall reasons to keep their mug before
reasons to sell it for money.
Have you experienced the endowment effect?
Author -
Founder, chief executive officer
JITHESH ANAND
Jithesh earned his Organisation
Development spurs at XLRI, TISS and ISABS. He
has 25 years of work experience, serving a range
of enterprises in various sectors, behind him. A
keen student of human behaviours and
technology applications to maximise enterprise
success, he is also a certified Neuro-Leadership
Coach and Applied Behaviours practitioner. His
energy is focussed on creating the best-in-class
products and technology applications to help our
customers revive, survive, and thrive.
One of the most famous examples of the endowment effect is from a study by
Daniel Kahneman, Jack Knetsch& Richard Thaler,in which participants were given
a mug and then offered the chance to sell it or trade it for an equally valued
alternative (pens). They found that the amount participants required as
compensation for the mug once their ownership of the mug had been established
("willingness to accept or WTA ") was approximately twice as high as the amount
they were willing to pay to acquire the same mug ("willingness to pay or WTP").
UNDERSTANDING BEHAVIOURS BETTER (5)
THE ENDOWMENT EFFECT

2. www.espl.io