Millionaire Mode

Economic Psychology and Behavioral Economics

Question 1 of 15

Which concept in Economic Psychology and Behavioral Economics refers to the tendency for individuals to overvalue items they already own or possess?

  1. Sunk Cost Fallacy
  2. Framing Effect
  3. Endowment Effect
  4. Prospect Theory

Prize Money

15₹7 Crores
14₹1 Crore
13₹50,00,000
12₹25,00,000
11₹12,50,000
10₹6,40,000
9₹3,20,000
8₹1,60,000
7₹80,000
6₹40,000
5₹20,000
4₹10,000
3₹5,000
2₹2,000
1₹1,000