The best definition of endowment effect is:

Multiple Choice

• This effect is the tendency to consider something that you own to be worth more than it would be if you did not own it.

• The tendency to focus on avoiding short-term losses, even at the expense of long-term gains.

• The tendency to avoid making a decision because you fear that, in hindsight, the decision would have been less than optimal.

• The confusion between real buying power and nominal buying power.

• The tendency to choose stocks from news sources without proof of validity.