Please use this identifier to cite or link to this item:
|Title:||The endowment effect and the reference state: Evidence and manipulations|
|Source:||Knetsch, J.L., Wong, W.-K. (2009). The endowment effect and the reference state: Evidence and manipulations. Journal of Economic Behavior and Organization 71 (2) : 407-413. ScholarBank@NUS Repository. https://doi.org/10.1016/j.jebo.2009.04.015|
|Abstract:||Recent reports suggest that the "endowment effect" may be due to conditions under which it is observed and explained by incentives long recognized in standard theory. Evidence from new experiments, reported here, provides empirical support for the role of the economic environment on people's perceived reference state and consequently on their valuations, as suggested by Köszegi and Rabin [Köszegi, B., Rabin, M., 2006. A model of reference-dependent preferences. Quarterly Journal of Economics 121, 1133-1165], and indicates that the disappearance of the valuation disparity is more likely due instead to conditions that weaken the perception of reference states. Further, these conditions appear to be poor approximations of those that prevail in most cases for which valuations are normally made.©2009 Elsevier B.V. All rights reserved.|
|Source Title:||Journal of Economic Behavior and Organization|
|Appears in Collections:||Staff Publications|
Show full item record
Files in This Item:
There are no files associated with this item.
checked on Feb 28, 2018
WEB OF SCIENCETM
checked on Feb 21, 2018
checked on Apr 21, 2018
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.