The endowment effect in the future: How time shapes buying and selling prices
The endowment effect in the future: How time shapes buying and selling prices
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未来的禀赋效应：时间如何影响买卖价格
DOI：
10.1017/s1930297500009293
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发表时间：
2022
影响因子：
2.5
通讯作者：
Navarro-Martinez Daniel
中科院分区：
文献类型：
--
作者：
Yamamoto Shohei;Navarro-Martinez Daniel
以往的研究主要集中在研究发生在当下的交易的天赋效应。然而，许多现实世界的交易被推迟到未来(即，人们同意购买或出售，但实际交易要到以后才会实现)。在这里，我们调查了交易时机如何影响捐赠效应。在五项研究中，我们表明，随着交易推迟到未来，捐赠效应会系统性地增加。具体地说，随着交易的延迟，购买价格显著下降，而销售价格保持不变，导致了放大的天赋效应(实验1)。这种模式不是通过对交易中涉及的资金进行贴现而产生的(实验2)，而且它适用于不同类型的物品(实验3)。我们还表明，这一现象不能通过卖家预期随着时间的推移而变得越来越依恋这些物品来解释(实验4)。最后，我们论证了在真实市场和真实交易的背景下，这种未来增加的天赋效应在现场是成立的(实验5)。
Previous research has focused on studying the endowment effect for transactions that take place in the present. Many real-world transactions, however, are delayed into the future (i.e., people agree to buy or sell, but the actual transaction does not materialize until a later time). Here we investigate how transaction timing affects the endowment effect. In five studies, we show that the endowment effect systematically increases as transactions are delayed into the future. Specifically, buying prices significantly decrease as the transaction is delayed, while selling prices remain constant, resulting in an amplified endowment effect (Experiment 1). This pattern is not produced by a discounting of the money involved in the transaction (Experiment 2), and it holds across different types of items (Experiment 3). We also show that the phenomenon cannot be explained by sellers anticipating becoming increasingly attached to the items over time (Experiment 4). Finally, we demonstrate that this increased endowment effect in the future holds in the field, in the context of a real market and with real transactions (Experiment 5).