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http://hdl.handle.net/10016/2915
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| we941910.pdf | -- 2008-09-04 -- Available on Internet -- preprint | 714,21 kB | Adobe PDF | |  |
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| Title: | Experimental tests of the endowment effect |
| Author(s): | Franciosi, Robert
Kujal, Praveen [kujal]
Michelitsch, Roland
Smith, Vernon L. |
| Publisher: | Universidad Carlos III de Madrid. Departamento de Economía |
| Issued date: | Jun-1994 |
| URI: | http://hdl.handle.net/10016/2915 |
| Abstract: | The discrepancy between WTA and WTP is supposed to be a manifestation of the endowment effect (KKT). The discrepancy between the average WTA-WTP disappears in the sense of statistical significance (Shogren et. at.) in settings with repeated interactions. In this paper we reexamine the KKT experimental procedures for identifying an endowment effect for consumer goods. No evidence of income or role effects is found. We show that even though the discrepancy between WTA-WTP diminishes undertrading can still persist in markets. |
| Serie / Nº.: | UC3M Working Papers. Economics
1994-19-10 |
| Keywords: | Endowment Effect
Willingness to Accept
Willingness to Pay
Undertrading |
| Appears in Collections: | DE - Working Papers. Economics. WE
Economists Online
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