Multiple Choice
A consumer is given the chance to buy a concert ticket for $50 and refuses.Later,that same consumer wins a free ticket to the concert.When asked to sell that ticket for $50,the consumer refuses,indicating that he would rather use the ticket himself.This is an example of
A) endowment effect.
B) salience.
C) framing bias.
D) irrational behavior.
Correct Answer:
Verified
Correct Answer:
Verified
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