Tina has been trying to sell some of her things on eBay, but nobody wants to buy them. She listed an old Ouija board for $20, a pair of used tights for $25, and an old (partially working)smoke detector for $60. A friend suggested that she lower the prices to attract buyers, but Tina felt that the items were reasonably priced. Tina's behavioral pattern is an example of the ____.
A)endowment effect
B)appraisal motive
C)self-enhancement motive
D)overjustification effect

Question

Quizplus · Accepted Answer

The endowment effect is a cognitive bias that causes people to assign more value to things merely because they own them. Tina's belief that her items are reasonably priced despite no interest from buyers illustrates this effect, as she likely overvalues her possessions simply because they are hers.

Tina Has Been Trying to Sell Some of Her Things