IS THE ENDOWMENT EFFECT AN EXPECTATIONS EFFECT?
نویسندگان
چکیده
منابع مشابه
Preschoolers and the Endowment Effect
We show that preschoolers exhibit the endowment effect as evidenced by experiments where children generally chose to keep their own toys rather than trading them for similar ones. Furthermore, we relate the emergence of this effect to children's innate psychobiological traits--emotional state, gender, handedness, and digit ratio. The trials were conducted with 141 children across 6 kindergarten...
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Research supported by National Science Foundation Human and Social Dynamics grant (SES 0729244) awarded to Sarah F. Brosnan. All procedures used in the research are in accordance with the Guidelines for the Use of Animals in Research and have been approved by the Institutional Animal Care and Use Committee of Georgia State University (IACUC protocol # A07011) and the Zoo Atlanta Scientific Revi...
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Simple exchange experiments have revealed that participants trade their endowment less frequently than standard demand theory would predict. List (2003a) finds that the most experienced dealers acting in a well-functioning market are not subject to this exchange asymmetry, suggesting that a significant amount of market experience is required to overcome it. In order to understand this market-ex...
متن کاملExplanations of the endowment effect: an integrative review.
The endowment effect is the tendency for people who own a good to value it more than people who do not. Its economic impact is consequential. It creates market inefficiencies and irregularities in valuation such as differences between buyers and sellers, reluctance to trade, and mere ownership effects. Traditionally, the endowment effect has been attributed to loss aversion causing sellers of a...
متن کاملEndowment effect in capuchin monkeys
In humans, the capacity for economically rational choice is constrained by a variety of preference biases: humans evaluate gambles relative to arbitrary reference points; weigh losses heavier than equally sized gains; and demand a higher price for owned goods than for equally preferred goods that are not yet owned. To date, however, fewer studies have examined the origins of these biases. Here,...
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ژورنال
عنوان ژورنال: Journal of the European Economic Association
سال: 2014
ISSN: 1542-4766
DOI: 10.1111/jeea.12084