Koil Energy Solutions Inc. (KLNG)

[jk21]

there was a study done (or more than one, i can't remember if it was replicated or not but i assume so) that showed people tend to overvalue what they own and undervalue what they don't own. this is one of the effects that has vexed economists when they make models of human behavior... and imo it's been one of the studies that has contributed to the loss of confidence in the more classical expected utility theory.

so in terms of setting the highest reasonable price, people have trouble doing that.

plus, some people could care more about time than price leading them to sell lower, but quicker. time could be more important so that'd still be rational.

and when it's just a few hundred shares, the $$ isn't that much so the extra few pennies may not be worth it....?

when it comes to single trades, just for a few hundred shares, ya never know what people are thinking imo.

edit: i looked it up; it's called the endowment effect.
http://en.wikipedia.org/wiki/Endowment_effect