In the context of loss aversion,_____ means that people ascribe greater value on things they already own,compared to objects owned by someone else.
A)sunk cost fallacy
B)endowment effect
C)hindsight bias
D)object permanence

Question

Quizplus · Accepted Answer

The endowment effect refers to the tendency of people to value things they own more than things they do not. This is a key aspect of loss aversion as people fear losing what they already have more than they desire gaining something new. The other options (sunk cost fallacy, hindsight bias, and object permanence) do not directly relate to the concept of valuing owned objects more than others.

In the Context of Loss Aversion,_____ Means That People Ascribe