Question: In a recent study, when asked to choose between an iPod and $100, people were more likely to choose the money. But when they were

In a recent study, when asked to choose between an iPod and $100, people were more likely to choose the money.

But when they were given an iPod and then asked if they would trade it for $100, they were more likely to choose the iPod. (LO21-2)

a. What effect does this reflect?

b. Is this behavior rational?

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