The endowment effect
A) is making attributions to the person or the situation
B) is drawing conclusions from small sample sizes
C) is negotiators believing that their ability to be correct or accurate is greater than actually true
D) is the tendency to overvalue something you own or believe you possess
E) means you think you're so powerful you never have to say you're sorry

Question

Quizplus · Accepted Answer

The endowment effect is the tendency for individuals to place a higher value on an object that they own or believe they possess than they would if they did not have ownership or belief of possession. This can lead to difficulties in negotiation and decision-making, as people may be resistant to giving up something they feel attached to, even if it may not be in their best interest. Choices A, B, C, and E are unrelated to the endowment effect.

The Endowment Effect