The Endowment Effect
Abstract
The endowment effect is among the best known findings in behavioral economics and has been used as evidence for theories of reference-dependent preferences and loss aversion. However, a recent literature has questioned the robustness of the effect in the laboratory, as well as its relevance in the field. In this review, we provide a summary of the evidence and describe recent theoretical developments that can potentially reconcile the different...
Paper Details
Title
The Endowment Effect
Published Date
Aug 1, 2014
Journal
Volume
6
Issue
1
Pages
555 - 579
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