Examlex
Which of the following characteristics is common to all sponges?
Fairness
A principle relating to justice, equity, and impartiality within the allocation of resources or treatment of individuals.
Endowment Effect
The phenomenon in which people ascribe more value to things merely because they own them.
Loss Aversion
A concept in behavioral economics stating that individuals prefer avoiding losses to acquiring equivalent gains, showing that losses have a greater emotional impact than gains.
Framing
The way information and messages are presented and structured to influence people's perceptions, decisions, and judgments.
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