Explain the Endowment Effect in negotiation. What does the endowment effect lead to in negotiation?

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Essentials Of Statistics For The Behavioral Sciences

ISBN: 9781464107771

3rd Edition

Authors: Susan A. Nolan

Posted Date: Aug 29, 2023 06:26 AM

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Explain the Endowment Effect in negotiation. What does the endowment effect lead to in negotiation?

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Expert Answer:

The Endowment Effect is a cognitive bias that refers to the tendency of individuals to assign higher value to objects they already own or possess compared to the value they would assign to the same ob... View the full answer

Essentials Of Statistics For The Behavioral Sciences

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