25. According to the "endowment effect:" A. people are willing to pay more for things they don't own, than they would have to receive to give up something they already have. B. people feel gains and losses with equal intensity. C. people assign higher values to things they own than things they don't. D. the intensity of feelings from gains and losses depends on how much wealth one possesses.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter2: Economics: Eight Powerful Ideas
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25. According to the "endowment effect:"
A. people are willing to pay more for things they don't own, than they would have to receive to
give up something they already have.
B. people feel gains and losses with equal intensity.
C. people assign higher values to things they own than things they don't.
D. the intensity of feelings from gains and losses depends on how much wealth one possesses.
Transcribed Image Text:25. According to the "endowment effect:" A. people are willing to pay more for things they don't own, than they would have to receive to give up something they already have. B. people feel gains and losses with equal intensity. C. people assign higher values to things they own than things they don't. D. the intensity of feelings from gains and losses depends on how much wealth one possesses.
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