1998-08-01
Trading wine: On the endowment effect, loss aversion, and the comparability of consumer goods
Publication
Publication
Journal of Economic Psychology , Volume 19 - Issue 4 p. 485- 495
In the present article we argue that the extent to which potential traders are susceptible to the endowment effect, is related to the comparability of the to be traded goods. This hypothesis was tested in an experimental market in which participants endowed with a bottle of wine were offered the opportunity to trade their wine for another wine. Results of our study support the hypothesis, and corroborate the generalization that the endowment effect is a manifestation of loss aversion.
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| doi.org/10.1016/S0167-4870(98)00020-8, hdl.handle.net/1765/12219 | |
| ERIM Article Series (EAS) | |
| Journal of Economic Psychology | |
| Organisation | Erasmus Research Institute of Management |
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van Dijk, E., & van Knippenberg, D. (1998). Trading wine: On the endowment effect, loss aversion, and the comparability of consumer goods. Journal of Economic Psychology, 19(4), 485–495. doi:10.1016/S0167-4870(98)00020-8 |
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