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Author Question: Grace Makutsi finally bought a pair of blue shoes that she had been coveting for a long time. In ... (Read 84 times)

jace

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on: Oct 7, 2019

Grace Makutsi finally bought a pair of blue shoes that she had been coveting for a long time. In less than a week she discovered that the shoes were uncomfortable. Grace went back to wearing her old pair and stashed away the new pair. When asked by her boss, Mme. Ramotswe, why does she not simply give away the new pair, she said: "But I paid so much for them." Grace's behavior


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is rational: she should not discard a valuable item.


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supports the endowment effect which states that ownership of an item makes it more valuable.


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ignores the fact that the purchase price is now a sunk cost and has no bearing on whether she should give them away or not.


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is rational because the more you pay for an item the more valuable it is.

InMicro ¦ Hubbard, O'Brien ¦ 1st Edition
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Marked as best answer by jace on Oct 7, 2019

lkoler

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Reply #1 on: Oct 7, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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jace

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Reply 2 on: Oct 7, 2019
Wow, this really help

essyface1

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Reply 3 on: Yesterday
Excellent

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