In Negotiation,buyers and Sellers May Adopt Differing Bargaining Positions for an Object,but

question 14

Multiple Choice

In negotiation,buyers and sellers may adopt differing bargaining positions for an object,but their private valuations for the object should not differ as a consequence of who has possession.The endowment effect is best described as:

• A)the difference between what sellers demand and what buyers are willing to pay
• B)a tendency for people to value an object more once they own it
• C)the intrinsic value we associate with a certain outcome
• D)saving money instead of purchasing goods

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Definitions:

Differential Reinforcement

A technique in behavior therapy focusing on reinforcing desired behaviors while withholding reinforcement for undesired behaviors.

Target Behavior

A specific behavior selected for change or intervention, often identified in behavioral assessments.

Stimulus

An event, item, or occurrence that provokes or elicits a specific functional reaction in an organism.

Interresponse Time

The amount of time that elapses between two consecutive behaviors or responses.