The effect can be described as following:
Consider two hypothetical scenarios. In one, I have had \$10,000 in the bank for a while. In another, I have had \$8,000 in the bank, and suddenly I won \$2,000 randomly, either as a gift, a lottery ticket, or something like that.
Imagine there's some frivolous \$1,000 item that I want, but am deterred by its price. In the former scenario, I don't buy it because it's too large a chunk of my savings. But in the latter, I am willing to buy it because I consider it to be "bonus money". Basically, a purchase in both scenarios would be an equivalent portion of my money, and in principle, the history of how I got my balance shouldn't matter, but it does.
Is this a real, measured effect? And if so, does it have a name?
It seems like the opposite of the endowment effect. Is this just another way of describing the endowment effect, where the effect is taking place in the former scenario but not the latter?
I also remember reading something similar, but not the same in Thinking Fast and Slow. I don't remember exactly, but it's something like, if a jacket is \$80 and an umbrella is \$20 I might not purchase both, because I consider \$20 too expensive for an umbrella. But if the same jacket was worth \$100 and the same umbrella comes with it for free, I might make that purchase. I don't remember the name of this effect, but it seems similar to the one I'm describing. Is it the same effect?
