Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias
نویسندگان
چکیده
منابع مشابه
Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias
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متن کاملThe Endowment Effect, Loss Aversion, and Status Quo Bias
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Motivated by the extensive evidence about the relevance of status quo bias both in experiments and in real markets, we study this phenomenon from a decisiontheoretic prospective, focusing on the case of preferences under uncertainty. We develop an axiomatic framework that takes as a primitive the preferences of the agent for each possible status quo option, and provide a characterization accord...
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Institutions: Institute of Medical Psychology and Behavioral Neurobiology; University of Tübingen, Tübingen, Germany, Institute of Medical Psychology and Behavioural Neurobiology, University of Tuebingen, Tuebingen, Germany, Institute of Medical Psychology and Behavioral Neurobiology, University of Tuebingen, Tuebingen, Germany, Centre of Behavioural and Cognitive Sciences, University of Allaha...
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A common assumption in negotiation analysis and game theoretic bargaining models is that negotiators have exogenously given preferences from the beginning of a negotiation on; in particular, these preferences are assumed to be independent of the history of offers made. However, empirical evidence gives rise to the assumption that preferences are endogenously constructed during the course of the...
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ژورنال
عنوان ژورنال: Journal of Economic Perspectives
سال: 1991
ISSN: 0895-3309
DOI: 10.1257/jep.5.1.193