Social Studies, 02.08.2019 23:10 jordynnmarelich9519
Harvey miller owns a baseball that was hit for a home run by ted williams. harvey, a long-time boston red sox fan, recently refused to sell his baseball for $75,000 even though he would not have paid someone more than $10,000 for the baseball if he did not already own it. harvey explained his decision not to sell the baseball by noting that: "ted williams was my hero. this baseball has a great deal of sentimental value for me." which of the following can explain harvey's behavior?
a) harvey is unrealistic about his future behavior
b) harvey fails to ignore sunk costs
c) harvey is affected by the endowment effect
d) harvey is behaving like a rational consumer
Answers: 3
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Harvey miller owns a baseball that was hit for a home run by ted williams. harvey, a long-time bosto...
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