This scenario, where students who are initially assigned to triple rooms would be willing to pay $200 to get a double rather than a triple room, is an illustration of endowment impact.
The endowment impact or effect is a scenario in which an individual places a higher value on a possessed object than the market value they would place on that same object if they did not own it.
The endowment effect is illustrated with objects with an emotional or symbolic significance to the individual.
Thus, this emotional bias is an illustration of the endowment impact or effect.
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