The Endowment Effect Suggests That That People

question 41

Multiple Choice

The endowment effect suggests that that people

• A) have a strong attachment to their entitlement, regardless of whether they paid to acquire them.
• B) have a strong sense of fairness.
• C) are concerned about the welfare of others.
• D) act in ways to distort market prices.

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Definitions:

3G

Third Generation, a term used to describe the third generation of wireless mobile telecommunications technology.

Mobile Wallets

Digital wallets on smartphones that store credit card, debit card, coupons, or reward card information to facilitate electronic transactions directly from the phone.

Near-field Communication

A set of communication protocols for communication between two electronic devices over a distance of 4 cm or less, often used for contactless transactions.

IoT

Stands for Internet of Things, which refers to the network of physical objects (things) that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the internet.