Search Results - subject:"Endowment Eﬀect"

An augmented Becker–DeGroot–Marschak mechanism for transaction cycles

Weber, Thomas A. - In: Economics Letters 114 (2012) 1, pp. 43-46

We introduce an augmented Becker–DeGroot–Marschak mechanism for the revelation of willingness-to-accept and willingness-to-pay in transaction cycles. The mechanism can be used to test for a behavioral anomaly.

Persistent link: https://www.econbiz.de/10010597198

Truck, batter and exchange versus the endowment effect : virtual field experiments in an online game environment

Ferreira De Sousa, Yannick; Munro, Alistair - In: Journal of economic psychology : research in economic … 33 (2012) 3, pp. 482-493

Persistent link: https://www.econbiz.de/10009703986

A Model of Reference-Dependent Preferences

Koszegi, Botond; Rabin, Matthew - Institute of Business and Economic Research (IBER), … - 2004

We develop a model that fleshes out, extends, and modifies existing models of reference dependent preferences and loss aversion while accomodating most of the evidence motivating these models. Our approach makes reference-dependent theory more broadly applicable by avoiding some of the ways that...

Persistent link: https://www.econbiz.de/10011131484

Learning to Like What You Have: Explaining the Endowment Effect

Huck, Steffen; Kirchsteiger, Georg; Oechssler, Jörg - 2003

The endowment effect describes the fact that people demand much more to give up an object than they are willing to … effect by showing that evolution favors individuals whose preferences embody an endowment effect. The reason is that an … endowment effect improves one's bargaining position in bilateral trades. We show that for a general class of evolutionary …

Persistent link: https://www.econbiz.de/10010276089

Learning to Like What You Have - Explaining the Endowment Effect

Huck, Steffen; Kirchsteiger, Georg; Oechssler, Jörg - University of Bonn, Germany - 2003

Persistent link: https://www.econbiz.de/10004968395

An examination into the factors that influence consumers’ perceptions of value

Drayer, Joris; Shapiro, Stephen L. - In: Sport Management Review 14 (2011) 4, pp. 389-398

Recent trends in ticketing, such as dynamic ticket pricing, indicate a fundamental shift towards demand-based pricing strategies. As such, research is needed to understand the factors that may influence the price that consumers are willing to pay for tickets. Using the contingent valuation...

Persistent link: https://www.econbiz.de/10010871511

An investigation of the endowment effect using a factorial design

Jefferson, Therese; Taplin, Ross - In: Journal of Economic Psychology 32 (2011) 6, pp. 899-907

The endowment effect is interpreted as evidence that we may ‘over value’ objects we already own. In this study we … introduce a novel approach to investigating the endowment effect, the factorial survey design, which enables manipulation of … variables potentially influencing the endowment effect. We consider the value and uniqueness of the possession, whether it is a …

Persistent link: https://www.econbiz.de/10010577294

The willingness to pay–willingness to accept gap revisited: The role of emotions and moral satisfaction

Biel, Anders; Johansson-Stenman, Olof; Nilsson, Andreas - In: Journal of Economic Psychology 32 (2011) 6, pp. 908-917

While many earlier studies have found that people’s maximum willingness to pay for having a good is often substantially lower than their minimum willingness to accept not having it, more recent experimental evidence suggests that this discrepancy vanishes for standard consumption goods when an...

Persistent link: https://www.econbiz.de/10010577304

Regret, disappointment and the endowment effect

Martinez, Luis F.; Zeelenberg, Marcel; Rijsman, John B. - In: Journal of Economic Psychology 32 (2011) 6, pp. 962-968

The endowment effect is the finding that minimum selling prices for a particular good exceed maximum buying prices. We … build on and extend previous research showing that emotions influence the endowment effect, and reveal that the two … found that an induction of regret eliminates the classic endowment effect, whereas an induction of disappointment reverses …

Persistent link: https://www.econbiz.de/10010573780

Behavioral Economics and the Law

Jolls, Christine - In: Foundations and Trends(R) in Microeconomics 6 (2011) 3, pp. 173-263

fields over the Coase theorem and the endowment effect. In law and economics today, both the endowment effect and other …

Persistent link: https://www.econbiz.de/10010693730