Ownership Bias, Endowment Effect

We value things more when we feel we own them.

#judgment

  1. Thaler, R. (1980). Toward a positive theory of consumer choice. Journal of Economic Behavior & Organization, 1(1), 39-60. https://doi.org/10.1016/0167-2681(80)90051-7
  2. Kahneman, D., & Tversky, A. (1984). Choices, values, and frames. American Psychologist, 39(4), 341-350. https://doi.org/10.1037/0003-066x.39.4.341
  3. Simmons, J. (n.d.). A better explanation of the endowment effect. The Decision Lab. https://thedecisionlab.com/better-explanation-endowment-effect/
  4. Weaver, R., & Frederick, S. (2012). A reference price theory of the endowment effect. Journal of Marketing Research, 49(5), 696-707. https://doi.org/10.1509/jmr.09.0103
  5. Morewedge, C. K., & Giblin, C. E. (2015). Explanations of the endowment effect: An integrative review. Trends in Cognitive Sciences, 19(6), 339-348. https://doi.org/10.1016/j.tics.2015.04.004
  6. Beggan, J. K. (1992). On the social nature of nonsocial perception: The Mere ownership effect. Journal of Personality and Social Psychology, 62(2), 229-237. https://doi.org/10.1037/0022-3514.62.2.229
  7. Hendricks, K. (2018, December 11). The endowment effect: Why ownership makes you overvalue your things. Kent Hendricks. https://kenthendricks.com/endowment-effect/
  8. Maddux, W., Yang, H., Falk, C., Adam, H., Adair, W. L., Endo, Y., Carmon, Z., & Heine, S. J. (2010). For whom is parting with possessions more painful? Cultural differences in the endowment effect. SSRN Electronic Journal, 21(12), 1910-1917. https://doi.org/10.2139/ssrn.1670617
  9. Lakshminaryanan, V., Keith Chen, M., & Santos, L. R. (2008). Endowment effect in capuchin monkeys. Philosophical Transactions of the Royal Society B: Biological Sciences, 363(1511), 3837-3844.
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