The Endowment Effect
A) is making attributions to the person or the situation.
B) is drawing conclusions from small sample sizes.
C) is negotiators believing that their ability to be correct or accurate is greater than actually true.
D) is the tendency to overvalue something you own or believe you possess.

Question

Quizplus · Accepted Answer

The Endowment Effect is the tendency to overvalue something you own or believe you possess. This means that individuals tend to assign a higher value to something simply because they own it, which can impact their decisions in negotiations or transactions.