Junior collects baseball cards. He owns one Felix Hernandez card that sells in most shops for $15.
Question:
A. Junior should value the two cards equally and be willing to trade one for the other.
B. the availability heuristic will cause Junior to value more highly the card he doesn't have.
C. the endowment effect would suggest that Junior would not be willing to trade the card he has for the card he doesn't have.
D. prospect theory says he will buy the second card as both have the potential to appreciate in value.
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Related Book For
Accounting Information Systems basic concepts and current issues
ISBN: 978-0078025334
3rd edition
Authors: Robert Hurt
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