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@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.},
}