John wants to buy a scented candle for his girlfriend. He recalls that her perfume, shampoo, and body lotion all smell like flowers, so he decides to buy her a flower-scented candle. His behavior is driven by:
A) a heuristic, because he is using a rule of thumb to make his decision.
B) the endowment effect, because his girlfriend already owns flower-scented goods.
C) loss aversion, because he doesn't want to make the wrong choice.
D) status quo bias, because he decides not to deviate from his girlfriend's usual scent.
Correct Answer:
Verified
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