The Analysis on the Endowment Effect

DOI

10.2991/978-94-6463-052-7_66How to use a DOI?

Keywords

Endowment effect; Coase Theorem; Value

Abstract

The endowment effect is very common in real life, and it can affect people’s life in many aspects. It can affect the market efficiency, causing the consumers to have an extra cost and an opportunity cost, which will have a bad effect on society, and influence the government in making decisions. So in order to solve these problems, studying the endowment effect seems very important. And these experiments will mainly focus on how the endowment effect may affect the people. This paper will mainly focus on three experiments, and they all show that when people once own an object, the value of the object in their opinion will increase a lot, but that object needs to be an item with real value, not like currency or voucher that kind of thing which does not have a real value.

Copyright

© 2022 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Linghan Yi
PY  - 2022
DA  - 2022/12/27
TI  - The Analysis on the Endowment Effect
BT  - Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)
PB  - Atlantis Press
SP  - 566
EP  - 571
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-052-7_66
DO  - 10.2991/978-94-6463-052-7_66
ID  - Yi2022
ER  -