The Endowment Effect Refers to the Tendency for People ____

question 121

Multiple Choice

The endowment effect refers to the tendency for people ____.

• A) to regard items that they own as more valuable and desirable than they really are
• B) to regard "natural talents" more positively than skills and traits that one has worked hard to acquire
• C) to regard skills and traits that one has worked hard to acquire more positively than "natural talents"
• D) to believe that most major skills and traits (e.g., intelligence, athleticism, humor) are fixed at birth and cannot be acquired through hard work

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Definitions:

Centralised Communication

A form of communication in which all decisions and discussions flow through a central point or leader, common in hierarchical organizations.

Group Pressure

The influence exerted by a group on its members to conform to the group's norms and expectations, often affecting behavior and decision-making.

Personality

The combination of emotions, attitudes, and behaviors that makes a person unique.

White Males

A demographic group identified by race (white) and gender (male), often discussed in contexts involving social, cultural, or political analysis.