which cognitive bias describes valuing something more just because you own it? select an answer from the…

which cognitive bias describes valuing something more just because you own it? select an answer from the options below. a loss aversion b sunk cost fallacy c endowment effect d anchoring bias question 3 of 14 in behavioral economics, what is a heuristic? select an answer from the options below. a a financial strategy to increase savings b a mental shortcut used for decision - making c an investment in technology stocks d another word for cognitive bias.

which cognitive bias describes valuing something more just because you own it? select an answer from the options below. a loss aversion b sunk cost fallacy c endowment effect d anchoring bias question 3 of 14 in behavioral economics, what is a heuristic? select an answer from the options below. a a financial strategy to increase savings b a mental shortcut used for decision - making c an investment in technology stocks d another word for cognitive bias.

Answer

Brief Explanations:

The endowment effect is the cognitive bias where people value something more highly simply because they own it. In behavioral economics, a heuristic is a mental shortcut used in decision - making to simplify complex problems. Loss aversion is the tendency to prefer avoiding losses to acquiring equivalent gains. Sunk cost fallacy is about continuing an action due to previously invested resources. Anchoring bias is relying too much on an initial piece of information.

Answer:

  1. C. Endowment effect
  2. B. A mental shortcut used for decision - making