robust endowment effect caused by default rules. Differences of expected values of the lotteries and the safe options …

loss, will produce an endowment effect of variable degree, in line with empirical findings. The model implies that the … endowment effect is not a laboratory finding that may not occur in real markets, but rather a market phenomenon that may not …

According to the endowment effect there is some discomfort associated with giving up a good, that is to say, we are …

bads (i.e., items yielding a negative utility). On the one hand, prospect theory predicts an endowment effect for goods and … bads, on the other hand, attention-based theories such as salience theory predict an endowment effect for goods, but a … reverse endowment effect (i.e., a particular high willingness to switch) for bads. Since both strands of research often make …

) value elicitation procedure provides an explanation for the endowment effect, as suggested by Cason and Plott (forthcoming …-list version of the BDM procedure. We find a robust endowment effect, even among those subjects whose elicited valuations for a … endowment effect. …

reverse the 'endowment effect' (Knetsch and Sinden, 1984; Knetsch, 1989; Kahneman et al., 1990). Our results uniformly reject …

proxied with a separate experiment and was used to assess the importance of endowment effect theory to explain exchange … responses with declining elasticities as prices increased. Key words: exchange asymmetry, endowment effect, loss aversion …