Cognitive and behavioral biases, which are widespread among humans, have recently been demonstrated in other primates, suggesting a common origin. Here we examine whether the expression of one shared bias, the endowment effect, varies as a function of context. We tested whether objects lacking inherent value elicited a stronger endowment effect (or preference for keeping the object) in a contex...

The paper argues that an economy’s industry/technology structure is endogenously determined by the economy’s endowment structure. For the convergence to occur, the government of an LDC should target the upgrading of endowment structure instead of the industry/technology structure in its development strategy. If the government chooses to pursue an industry/technology structure, which is inconsis...

the endowing means withholding of corpus of property and consumering its benefits for good aims. endowing is a legal act but there are differences about its nature. some of islamic jurists believe that it is a unilateral act and others believe that it is a contract. there are also differences about state of ownership of endowed property: some of islamic jurists believe that settler of endowment...

The neuropeptide oxytocin (OXT) can influence self-processing and may help motivate us to value the attributes of others in a more self-like manner by reducing medial prefrontal cortex (mPFC) responses. We do not know however whether this OXT effect extends to possessions. We tend to place a higher monetary value on specific objects that belong to us compared to others, known as the "endowment ...

The "endowment effect" refers to the tendency to place greater value on items that one owns-an anomaly that violates the reference-independence assumption of rational choice theories. We investigated neural antecedents of the endowment effect in an event-related functional magnetic resonance imaging (fMRI) study. During scanning, 24 subjects considered six products paired with 18 different pric...

This paper uses data from China’s health and pension check (CHARLS) that was obtained in 2010 and also employs the OLS regression method to analyze the impact of pension insurance on savings and consumption, and to highlight the difference created by different elderly security systems. The research results show that part of the accumulated old-age insurance system still has simulative and crowd...

The endowment effect--the tendency for owners (potential sellers) to value objects more than potential buyers do--is among the most widely studied judgment and decision-making phenomena. However, the current research is the first to explore whether the effect varies across cultures. Given previously demonstrated cultural differences in self-construals and self-enhancement, we predicted a smalle...

Cognitive and behavioral biases, which are widespread among humans, have recently been demonstrated in other primates, suggesting a common origin. Here we examine whether the expression of one shared bias, the endowment effect, varies as a function of context. We tested whether objects lacking inherent value elicited a stronger endowment effect (or preference for keeping the object) in a contex...

In this paper, we develop a new method for Þnding the optimal bidding strategy in sequential auctions, using a dynamic programming technique. The existing method assumes that the utility of a user is represented in an additive form. From this assumption, the remaining endowment of money must be explicitly represented in each state, and the calculation of the optimal bidding strategy becomes tim...

Three studies (two conducted in Israel and one in the United States) examined associations between self-rated dispositional happiness and tendencies to treat memories of positive and negative events as sources of enhanced or attenuated happiness through the use of "endowment" and "contrast." Although participants generally endorsed items describing happiness-enhancing tendencies more than happi...