One difficulty that homeowners often run into when they attempt to sell is that they tend to value their own property much higher

One difficulty that homeowners often run into when they attempt to sell is that they tend to value their own property much higher than do other people, including real estate agents and potential buyers. This tendency is consistent with the

A. sunk cost principle.
B. endowment effect.
C. escalation effect.
D. concept of entrapment.

Correct answer is option B. Endowment effect. Explanation: One difficulty that homeowners often run into when they attempt to sell is that they tend to value their own property much higher than do other people, including real estate agents and potential buyers. This tendency is consistent with the endowment effect.