medium · SAT Reading & Writing

Recent experiments in behavioral economics have explored the 'endowment effect,' which suggests that individuals value an item more highly simply because they own it. In one study, participants who were given a coffee mug were unwilling to sell it for less than twice the price that other participants were willing to pay to acquire it. the owners' perceived value was influenced more by the fear of loss than by the item's objective utility.

Which choice completes the text with the most logical transition?

  1. In other words,
  2. Admittedly,
  3. Nevertheless,
  4. Instead,

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