I love the psychology of this. It applies to just about everything! While I was reading this I was reminded of how stubborn I can be on places like ebay or dealdash. I'm so confident that I'll win but in the end I've paid more than what the item was worth. It's why I don't gamble and WHY i stay away from those kinds of sites. LOL
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Great example. There are a few big purchases I've made in my life that I justified falsely. I bought an e-reader when they were the hot new technology even though I seldom read. lol.