Mispredicting the endowment effect: underestimation of owners' selling prices by buyer's agents

Authors :: Boven, Leaf Van
Loewenstein, George
Dunning, David
Source :: Journal of Economic Behavior & Organization. July, 2003, Vol. 51 Issue 3, p351, 15 p.
Publication Year :: 2003
Abstract: The endowment effect indicates that preferences can change rapidly and systematically because of changes in an individual's transient asset position. People's underestimation of the endowment effect's impact on other people's preferences can lead to behavior that can have costly economic consequences.

Subjects :: Economic research -- Models
Economics -- Models
Economics -- Evaluation
Endowments -- Research
Business
Economics

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