Question
Please identify the bias in the following scenario: You are selling your house, the market indicates that comparable houses in the area are selling and
Please identify the bias in the following scenario:
You are selling your house, the market indicates that comparable houses in the area are selling and have sold for around $475,000. You walk around your house and think of all the years that you saved up to get a house like this, you think about the times that your family spent in the house over holidays and special occasions and the sweat equity you put in over the past 15 years. You list your house at $585,000.
Select one:
a.
endowment effect
b.
outcome bias
c.
Anchoring Heuristic
d.
halo effect
e.
confirmation bias
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started