This paper studies a dynamic model of a nancial market with a strategic trader. In each period the strategic trader receives a privately observed endowment in the stock. He trades with competitive market makers to share risk. Noise traders are present in the market. After receiving a stock endowment, the strategic trader is shown to reduce his risk exposure either by selling at a decreasing rat...

We report on a series of economic decision-making experiments exploring how individuals make lifecycle consumption plans when they face various different deterministic endowment profiles over their lifetimes. In some treatments, subjects face a decline in their endowment income during a retirement phase while in other treatments endowment income is constant over all periods of life or subjects ...

This research provides evidence for a new moderator of the endowment effect: having memento endowed object. Three studies adapting classic effect paradigms and using variety objects mementos demonstrate that an increases willingness to trade decreases selling prices endowment. We provide attenuate regardless whether is separate small gain when facing loss or part original kept. Examining in con...