Framing effects
4 important questions on Framing effects
Explanation of the endowment effect is?
- sellers tend to overvalue their loss -> products they sell
- buyers tend to overvalue their loss -> money they pay for purchase
Implications of endowment effect is?
Sunk costs effect is?
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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How does pricing affects demand and consumption?
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
