Thoughts on Non-Refundable @ current prices AND Refundable @ 10% higher rate?

[house_plants]

@Militaryhorsegal

The question for you becomes ‘would you pay 10% more to avoid non-refundable?’ That is basically the crux of my proposed experiment. It would be a way to test people’s aversion to paying 10% more for my listings more than it is a test of non-refundable or not.

I should have read this thread before I started a similar thread. Would you mind sharing the results of your experiment?

Firm vs. Strict vs. Non-Refundable

Because the Extenuating Circumstances Policy over ride’s everything is that the host has in place. The guest just has to find the right rep who will fall to their side.

My hypothesis is loss aversion bias would cause more people to opt for the non-refundable option and it would be a win for me.
Loss Aversion: Definition, Risks in Trading, and How to Minimize.

Ideally, we should have a third option, that would help us construct a decoy effect similar to how Starbucks encourages people to order the largest drink.

Decoy effect