Mia Recently Bought a Kayak for $700 That She Values

Multiple Choice

Mia recently bought a kayak for $700 that she values at $1,000. Mia's friend, Sofia, offered to buy the kayak from her for $1,000, but Mia turned her down. Mia is most likely encountering _____.

A) sunk cost fallacy
B) time inconsistency
C) falling prey to framing effects, particularly anchoring
D) the endowment effect