when we want to sell our old car or our house we are much more likely to demand an unrealistic value which is far higher than what buyers would consider acceptable. This is an example of:

Question

Quizplus · Accepted Answer

This scenario is an example of the endowment effect, which occurs when people value something they own more highly than something they do not own, simply because they own it. This leads to setting higher prices for their possessions when trying to sell them.

When We Want to Sell Our Old Car or Our