Journal article
The Endowment Effect: Rose‐Tinted and Dark‐Tinted Glasses
The Journal of consumer research, Vol.32(3), pp.390-395
12/2005
DOI: 10.1086/497550
Abstract
The endowment effect, predicted by prospect theory, is a robust finding in behavioral decision theory. Extending recent examinations of the underlying processes, we present evidence for differential perceptions of the traded item, with sellers focusing more on positive features and less on negative features, relative to buyers. In experiment 1, sellers and buyers access information of differing valence in a free recall task. Experiment 2 utilizes error rates and response latencies to demonstrate systematic, and differing, patterns of errors and biases in reactions to valenced stimuli. Experiment 3 utilizes contrast effects to manipulate these foci, thereby moderating the endowment effect.
Details
- Title: Subtitle
- The Endowment Effect: Rose‐Tinted and Dark‐Tinted Glasses
- Creators
- Dhananjay Nayakankuppam - University of IowaHimanshu Mishra
- Resource Type
- Journal article
- Publication Details
- The Journal of consumer research, Vol.32(3), pp.390-395
- Publisher
- The University of Chicago Press
- DOI
- 10.1086/497550
- ISSN
- 0093-5301
- eISSN
- 1537-5277
- Language
- English
- Date published
- 12/2005
- Academic Unit
- Marketing
- Record Identifier
- 9984380521702771
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