BACKGROUND This research-based paper examined the Indonesian foundation and endowment laws in relation to educational and religious institutions which are managed under foundation legal structure. The institutions examined were: 1) The Pondok Pesantren al-Ansor Foundation in Padangsidimpuan City; 2) The Pesantren Dar al-Ma'arif Education Foundation in South Labuhanbatu Regency; and 3) ​The Masj...

Human behavior is not always consistent with standard rational choice predictions. Apparent deviations from rational choice predictions provide a promising arena for the merger of economics and biology [1-6]. Although little is known about the extent to which other species exhibit these seemingly irrational patterns [7-9], similarities across species would suggest a common evolutionary root to ...

Agents and endowments. There is a representative household and a government. For expositional purposes, the representative household is split into a ‘worker’ and a ‘shopper’. The worker receives a stochastic endowment yt(s ) of a single non-storable good. The household is prohibited from directly consuming its own endowment. Instead, the worker sells the endowment for money which is used by the...

The endowment effect has been debated for over 30 years. Recent research suggests that differential focus of attention might play a role in shaping preferences. In two studies we investigated the role of biased attention in the emergence of endowment effects. We thereby derive predictions from an extended version of evidence accumulation models by additionally assuming a bias in attentional all...

In this paper, based on Marxism social security theory, the author creatively advances that in China value of labour-power consists of the endowments for the laborer and part of endowments for his or her parents, considering China’s conditions. By this way, the author integrates traditional individual, family, collectivity, and state endowments into a complex endowment mode, namely the target m...

We investigate the effect of different origins of endowment in a charitable giving experiment. Our results show that money from non-research funds and earned endowment significantly decrease donations, but there are insignificant differences between genders.

We study combinatorial auctions with bidders that exhibit an endowment effect. In most of the previous work on cognitive biases in algorithmic game theory focus was analyzing implications and mitigating their negative consequences. contrast, this paper we show how some cases can be harnessed to obtain better outcomes. Specifically, Walrasian equilibria markets. It is well known exist only limit...

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...

This research proposes that the concept of emotional attachment, and specifically the independent constructs of psychological ownership and affective reaction, can help explain many of the endowment effect findings documented in the literature. We define these constructs and then test them across a set of nine studies in which we both replicate previous and generate new endowment effect finding...