Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.jebo.2009.04.015
DC FieldValue
dc.titleThe endowment effect and the reference state: Evidence and manipulations
dc.contributor.authorKnetsch, J.L.
dc.contributor.authorWong, W.-K.
dc.date.accessioned2011-02-24T06:55:47Z
dc.date.available2011-02-24T06:55:47Z
dc.date.issued2009
dc.identifier.citationKnetsch, 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
dc.identifier.issn01672681
dc.identifier.urihttp://scholarbank.nus.edu.sg/handle/10635/20029
dc.description.abstractRecent 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.
dc.description.urihttp://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1016/j.jebo.2009.04.015
dc.sourceScopus
dc.subjectEndowment effect
dc.subjectExchange experiments
dc.subjectReference state
dc.typeArticle
dc.contributor.departmentECONOMICS
dc.description.doi10.1016/j.jebo.2009.04.015
dc.description.sourcetitleJournal of Economic Behavior and Organization
dc.description.volume71
dc.description.issue2
dc.description.page407-413
dc.description.codenJEBOD
dc.identifier.isiut000267999900025
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