Answer:
The endowment effect.
Explanation:
The endowment effect is the reluctancy to sell or throw away an object they own opposed to acquiring the same object if they do not own it. In this case, Mark is reluctant to sell his car. Even if it meant great significance to him or not, he would not buy the same model if he hadn't had it in the first place. He would buy another one, according to this theory.
Answer:
hindsight bias
Explanation:
According to my research on studies conducted by various psychologists, I can say that based on the information provided within the question you might be engaging in what is known by psychologists as hindsight bias. This is the phenomenon of individuals believing that they knew a certain event was going to happen only after the event actually happened.
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The child that can solve the pendulum problem is operating in the formal operational thinking stage. This stage starts when the child is age 12 and lasts until adulthood. This stage is when children are able to think abstractly and manipulate ideas in their heads without a concrete model. An example is solving a mathematical calculation.
