For the past six months, we have witnessed an upheaval in the economics of higher education unlike anything we have ever seen. Endowment levels are 20% to 35% lower than a year ago. Colleges and universities that rely on endowments for large parts of their operating support have budgets that are unsustainable. Major layoffs, firings, hiring freezes, reductions in student services, and huge reductions in capital projects have become the norm.
Permanent fund of Property or money bestowed upon an institution or a person, the income from which is used to serve the specific purpose for which the gift was intended.
n. (名詞 noun)
TEFA基金是一種『永續型累積基金 (Endowment Fund)』，類似哈佛大學的永久基金 (Harvard’s Endowment Funds)；係將募款所得、投資理財與孳息所得，扣除補助東海大學款項及行政作業費用後，餘額納入財產總額。
━━ n. 寄付; （普通pl.） 基本財産; （天賦の）才能.
endowment insurance [〈英〉assurance] 養老保険.
endowment mortgage 養老保険抵当.
endowment policy 養老保険の一種.
要將一個人既有的東西/財產等 拿去與別人交換或捐贈出去等 都會有許多心理阻力 或對於要將某個東西賣出去，一般人所要求的價格通常比他們願意花錢去買的價格來得高。……
這種偏愛既成或既有的心理 經濟學稱為Endowment Effect
日本翻譯為（所有効果 /所持効果/授かり効果）(endowment effect; status quo bias“現狀偏差”) 。
Endowment Effect 中文為(原賦效應/稟賦效果)
The endowment effect is an irrational preference to keep what you have rather than switch. Better the devil you know and all that.
A typical experiment designed to reveal the effect would give participants a small gift for participating in the experiment. Later, the participants would be invited to swap the gift for an alternative. No matter what the original gift was, or what the alternative is, people, irrationally, are reluctant to make the swap.