Bibtex export
@book{ Fehr2022, title = {The endowment effect in the general population}, author = {Fehr, Dietmar and Kübler, Dorothea}, year = {2022}, series = {Discussion Papers / Wissenschaftszentrum Berlin für Sozialforschung, Forschungsschwerpunkt Markt und Entscheidung, Abteilung Verhalten auf Märkten}, pages = {16, 14}, volume = {SP II 2022-204}, address = {Berlin}, publisher = {Wissenschaftszentrum Berlin für Sozialforschung gGmbH}, abstract = {We study the endowment effect and expectation-based reference points in the field leveraging the setup of the Socio-Economic Panel. Households receive a small item for taking part in the panel, and we randomly assign respondents either a towel or a notebook, which they can exchange at the end of the interview. We observe a trading rate of 32 percent, consistent with an endowment effect, but no relationship with loss aversion. Manipulating expectations of the exchange opportunity, we find no support for expectation-based reference points. However, trading predicts residential mobility and is related to stock-market participation, i.e., economic decisions that entail parting with existing resources.}, }