In negotiations,the endowment effect creates a bias primarily in seller's evaluations.

Question

Quizplus · Accepted Answer

The endowment effect is a cognitive bias where individuals value an item they own more than an identical item that they do not own. In negotiations, this can create a bias for sellers who may overvalue their own goods or assets simply because they feel a sense of ownership over them. This can make it more difficult for them to come to agreements or compromises that are mutually beneficial.

In Negotiations,the Endowment Effect Creates a Bias Primarily in Seller's