A Shock Therapy Against the 'Endowment Effect'
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چکیده
منابع مشابه
A Shock Therapy Against the “ Endowment Effect ” Dirk Engelmann Guillaume
Simple exchange experiments have identified the fact that participants trade their endowment less frequently than standard demand theory predicts. List (2003) finds, however, that the most experienced dealers acting on a well functioning market are not subject to this “endowment effect”. Thus, it seems that a lot of market experience is needed to overcome the “endowment effect”. In order to und...
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We show that preschoolers exhibit the endowment effect as evidenced by experiments where children generally chose to keep their own toys rather than trading them for similar ones. Furthermore, we relate the emergence of this effect to children's innate psychobiological traits--emotional state, gender, handedness, and digit ratio. The trials were conducted with 141 children across 6 kindergarten...
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Research supported by National Science Foundation Human and Social Dynamics grant (SES 0729244) awarded to Sarah F. Brosnan. All procedures used in the research are in accordance with the Guidelines for the Use of Animals in Research and have been approved by the Institutional Animal Care and Use Committee of Georgia State University (IACUC protocol # A07011) and the Zoo Atlanta Scientific Revi...
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We exhibit three non-standard cases of preference reversal (PR) between choices and valuations of bets. The endowment effect arises as a surprising consequence of the WTA/WTP disparity when the probabilities of winning get close to certainty. We consider a new theory of choice under risk, cognitive consistency (CC) theory, which can predict both standard and non-standard cases of PR, the WTA/WT...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2009
ISSN: 1556-5068
DOI: 10.2139/ssrn.1362540