See files attached. Please follow instructions given, use the sources attached and more of your own choosing (a)Explain what is reference dependent utility and loss aversion and how they lead to the endowment effect.
(b) Describe two examples where the endowment effect influences choices. For each example, explain whether and how the endowment effect leads to outcomes which deviate from those predicted by the standard economic model. (c) Discuss any factors that moderate the endowment effect.
Essential to use resources attached in addition to those of your own choosing!
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