Possessions are going out of fashion. An endless stream of media reports claim millennials – that amorphous mass of people born in the 1980s and 1990s who have grown up with the internet and digital technology – are in favor of accessing rather than owning stuff.

And yet my research shows that owning possessions is still something millennials hunger for. It is just that these possessions are now digital rather than physical. People who become heavy users of the apps they download can develop deep relationships with these services, so deep that they take on what we call “psychological ownership”…

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