Endowment Effect and Willingness to Accept An experiment gives 50 students a coffee mug valued at $6. Later, students are asked the minimum amount for which they would sell the mug (willingness to accept). The average asking price is $10. None of the students without mugs are willing to pay more than $6 to buy one (willingness to pay). (a) Compare the willingness to accept with the willingness to pay, and use the endowment effect to explain the discrepancy. Note:- Do not provide handwritten solutio

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