The Endowment Effect

question 35

Multiple Choice

The endowment effect:

• A) is making attributions to the person or the situation
• B) is negotiators believing that their ability to be correct or accurate is greater than actually true
• C) is drawing conclusions from small sample sizes
• D) is the tendency to overvalue something you own or believe you possess

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Definitions:

Propranolol

A medication commonly used to treat high blood pressure, anxiety, and certain heart conditions by blocking the effects of adrenaline on the body's beta receptors.

Retrieval Cues

Information in the environment or in memory that triggers the recall of information.

Memory Traces

A theoretical concept referring to the physical changes in the brain that represent a memory; also known as engrams.

Target Stimuli

Specific objects or events that the attention is directed towards in psychological experiments or therapies.