1. What explanations other than the endowment effect could help to explain any differences between a buyers...
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1. What explanations other than the endowment effect could help to explain any differences between a buyer’s WTP and a seller’s WTA?
2. Illustrate the impact of the endowment effect on indifference curves.
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1 One possible explanation is that people are uncertain about the valuequality of the good before they purchase it and this reduces their WTP Once the...View the full answer
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