A large body of empirical research has examined the impact of trading perspective on pricing of consumer products, with the typical finding being that selling prices exceed buying prices (i.e., the endowment effect). Using a meta-analytic approach, we examine to what extent the endowment effect also emerges in the pricing of monetary lotteries. As monetary lotteries have a clearly defined norma...

Using unique data on condominium transactions that allow for accurately-measured capital gains and losses, we examine the impact of these gains and losses on homeowner decisions. Consistent with the disposition effect, owners with a gain have higher sell propensities than those with a loss. Since real estate prices result from owner negotiations with buyers and tenants, we also examine whether ...

Starting with Knetsch (1989), experiments on the “endowment effect” (Thaler 1980) typically rely on a two-stage procedure. In the first stage, subjects are endowed with a good, such as a mug. In the second stage, the same subjects are given the opportunity to trade this good for another good of similar value, such as a pen. The endowment effect holds that very few subjects chose to trade, somet...

Over the past few years, firms in the travel and entertainment industries have begun using novel sales strategies for revenue management. In this chapter, we study a selling strategy called opaque selling, in which firms guarantee one of several fully specified products, but hide the identity of the product that the consumer will actually obtain until after the purchase is completed. Several fi...

Under a given tradable credit scheme, travelers’ loss aversion behavior for credit charging during the route choice process is studied. A disutility function of loss aversion is applied to approach travelers’ different attitudes towards credit loss and gain, and the transaction costs of buying and selling credits are also incorporated in the function. The user equilibrium (UE) and market equili...

since the jurisprudential traditions have accepted clearly buying & selling the hunter dogs and there is no available jurisprudential traditions about other species of dogs like as flock, garden and..., many of the jurists don't accept the trading and selling of those dogs. but deliberating upon traditions show that the buying & selling of those dogs is correct and there is no problem. in ...