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Explain the endowment effect.
Stockholders
Individuals or entities that own one or more shares of stock in a corporation, making them part owners of the company.
Bondholders
Individuals or entities that own bonds, which are debt securities issued by corporations or governments.
Corporation
A legal entity that is separate and distinct from its owners, providing them with limited liability and the ability to raise capital by selling shares.
Determinant
A mathematical concept used in linear algebra, often to determine the non-singular or singular status of a matrix.
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