The endowment effect in behavioral economics refers to how people:
A) are averse losses in a game of chance such as poker.
B) prefer stock market gains over losses.
C) value things more if they own them.
D) avoid the loss of something of high value.

Question

Quizplus · Accepted Answer

The endowment effect describes the phenomenon where people assign higher value to things merely because they own them, compared to if they did not own them.

The Endowment Effect in Behavioral Economics Refers to How People