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Suppose That Richard Has Just Told You That He Would

Question 255

Multiple Choice

Suppose that Richard has just told you that he would not pay more than $100 dollars for one of his favorite baseball cards. You offer to give him $110 dollars for his card and he refuses. What consumer choice theory or effect explains this result?


A) the endowment effect
B) bounded rationality
C) bounded self-interest
D) bounded will power

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