Lester purchased a stock which has declined in value by 25 percent due to production flaws and obsolete product offerings. Lester continues to purchase shares as the stock price continues to decline. Lester is displaying the characteristic known as:
A) endowment effect.
B) money illusion.
C) regret aversion.
D) myopic loss aversion.
E) sunk cost fallacy.
Correct Answer:
Verified
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