The Observation That People Tend to Value Something More Highly

question 104

Multiple Choice

The observation that people tend to value something more highly when they own it than when they don't is called the

• A)wealth effect.
• B)endowment effect.
• C)path-dependent effect.
• D)endorsement effect.

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Definitions:

Same Sex Parent

A parent who shares the same gender identity as their partner or co-parent, raising a child or children together.

Schema

A cognitive framework or concept that helps organize and interpret information, allowing individuals to understand new experiences more efficiently.

Cognitive Structure

The mental processes or frameworks that organize and interpret information in the human mind.

Associations

Connections or relationships between thoughts, ideas, or concepts, often used to describe how memories are linked in the mind.