Which of the following demonstrates the endowment effect?
A) If you received a good as a gift, you are less likely to attach a monetary value to the good.
B) Isabella was not willing to part with her Chris Hemsworth poster although she was offered 100 for it, a sum greater than what it costs to purchase another such poster.
C) Chris Hemsworth commands a premium in the movie industry because he is endowed with dashing looks.
D) Whelan inherits a cottage in Cape Cod from his grandfather and is unwilling to sell it for sentimental reasons.
Question 2
All games share three characteristics. Two of these characteristics are rule and strategies. What is the third characteristic called?
A) payoffs B) competition C) collusion D) results
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