What time value of money means — $100 today is worth more than $100 in the future

What the labor theory of value claims — the value of a good equals the labor required to produce it

Labor theory posits: Good's value equals production labor

What the endowment effect causes — you value what you own more than what you don't

The endowment effect leads to overvaluation of owned items compared to identical alternatives

What a Veblen good is — a luxury good where higher price increases desirability

A Veblen good is a luxury item whose demand increases as its price rises, due to perceived exclusivity

What implied volatility tells you — the market's expectation of future price movement

Implied volatility indicates the market's anticipated future price fluctuation of an asset

What a stablecoin is — cryptocurrency pegged to a fiat currency, usually the US dollar

A cryptocurrency with a fixed value to a fiat currency, typically USD

What the disposition effect causes — investors sell winners too early and hold losers too long

The disposition effect leads to premature selling of profitable investments and delayed selling of underperforming ones