Endowment effect and the gap between WTP and WTA

I used an auction experiment in China and confirmed that there is a WTP-WTA gap. I used the solemn oath commitment device and found that it reduces the gap in the long possession treatment. However, the gap still exists in the short possession treatment. The evidence suggests that taking an oath to tell the truth with an incentive-compatible mechanism could mitigate the WTP-WTA gap.

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Year of publication:	2019-08
Authors:	Qin, Botao

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Type of publication:	Book / Working Paper
Language:	English
Notes:	Qin, Botao (2019): Endowment effect and the gap between WTP and WTA.
Classification:	C91 - Laboratory, Individual Behavior ; D46 - Value Theory
Source:	BASE

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