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 …

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

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 …