Examlex
All of the following statements are true EXCEPT:
Status Quo Bias
The preference for maintaining current conditions or resisting change, even when better alternatives exist.
Anchoring Effect
A cognitive bias where an individual depends too heavily on an initial piece of information (the "anchor") when making decisions.
Endowment Effect
A psychological inclination to value possessions more highly solely due to personal ownership.
Endowment Effect
A mental occurrence in which individuals attribute increased worth to objects simply because they possess them.
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