Problem
a. The endowment effect creates a problem for doing incentivized experiments in economics, especially if the experimenter wants to study risks that involve losses. Describe the problem and suggest a solution.
b. Describe the experimental tasks researchers use to study prospect theory with monkeys.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.