The Endowment Effect

question 71

Multiple Choice

The Endowment Effect

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

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Definitions:

Advertising

A paid form of nonpersonal communication transmitted through mass media, such as television commercials or magazine advertisements.

Communication

The act or process of using words, sounds, signs, or behaviors to express or exchange information or to express ideas, thoughts, feelings, etc., to someone else.

Industrial Products

Goods produced for use in production and operation for other industries, not intended for direct consumption by consumers.