contestada

Sellers typically ask a higher price for an item than buyers are willing to pay. This is called a(n) Group of answer choices Compensatory model Noncompensatory model Endowment effect Elimination by aspect model Lexicographical model

Respuesta :

Answer:

Endowment effect

Explanation:

Endowment effect is the effect which is defined as the when the ownership rises or increases the value of the product or the item.

For example, when it is asked to set a price for an item to be exchanged, the sellers usually ask for a much higher price for the product, than the buyers are willing to pay. This effect is called as the endowment effect because the ownership increase the value linked with the product or item.

Otras preguntas