Willingness to accept is different from willingness to pay - is there a name for this Given the situation below, can someone help me identify/name the logical phenomenon?
So I own a laptop that I don’t use…. Someone has offered me £1000 dollars  for it but I decided not to sell it. I myself would NOT pay £1000 dollars for it… I feel like there’s some kind of illogical behaviour going on here because me not selling it for £1000 is financially equivalent to me buying it for $1000. I think in both cases I’m giving up £1000 for a laptop. Do you guys know  if there a word/name for this?
The discrepancy between WTP and WTA is known as the endowment effect, and this has been extensively studied in behavioral economics.