Behavioral economists LOADING... attribute some consumer behavior to the endowment effect.
Which of the following is an example of the endowment effect?
An example of the endowment effect is

A. being unwilling to sell a painting for a price that is greater than the price you would be willing to pay to buy the painting if you didn't already own it.

Explanation:

Complete Question:

Behavioral economists LOADING... attribute some consumer behavior to the endowment effect.

Which of the following is an example of the endowment effect?

An example of the endowment effect is

A. being unwilling to sell a painting for a price that is greater than the price you would be willing to pay to buy the painting if you didn't already own it.

B. being unwilling to sell a car that you already own.

C. buying lottery tickets with an expected value that is less than their price.

D. taking into account nonmonetary opportunity costs such as the value of your time.

E. being willing to will your descendents a house upon your death that you otherwise could have sold for a substantial price.

Endowment effect is the tendency of people to be unwilling to sell a object they already won even if they are offered a price that is greater than the price they would be willing to pay to buy that same object if they did not already won it i.e, the tendency for people to likely retain an object or goods they own than acquire that same object when they do not own, this effect place a good value to good they own more than people who does not

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