medium · Certified Financial Planner Professional Conduct
The Rourke household inherited a residence from a parent in 2019. The property has appreciated significantly, but they refuse to sell it because 'it has been in the family for forty years,' even though it now represents 60% of their net worth and they have no intention of living there.
Which behavioral bias is primarily driving this decision?
- Endowment Bias
- Anchoring Bias
- Hindsight Bias
- Confirmation Bias
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