The Endowment Effect Suggests That That People

question 27

Multiple Choice

The endowment effect suggests that that people

• A)have a strong attachment to their entitlement, regardless of whether they paid to acquire it.
• B)have a strong sense of fairness.
• C)are concerned about the welfare of others.
• D)act in ways to distort market prices.

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Definitions:

Existence

The state or fact of being real or alive; having reality or life.

Prove

Demonstrate that a statement or proposition is true, either by using argumentation or by presenting evidence.

Happiness Box

A conceptual tool or physical repository used for storing memories, thoughts, or items associated with happiness and joy.

Dreaming

The experience of envisioned images, sounds, or other sensations during sleep.