Bad riddance or good rubbish? Ownership and not loss aversion causes the endowment effect
Bad riddance or good rubbish? Ownership and not loss aversion causes the endowment effect
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DOI：
10.1016/j.jesp.2009.05.014
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发表时间：
2009-07-01
影响因子：
3.5
通讯作者：
Wilson, Timothy D.
中科院分区：
文献类型：
--
作者：
Morewedge, Carey K.;Shu, Lisa L.;Wilson, Timothy D.
人们通常要求更多的放弃他们所拥有的物品，而不是他们愿意支付购买这些物品，如果他们还没有拥有这些物品（禀赋效应）。对这一现象的标准经济学解释是，人们期望放弃一种商品的痛苦大于获得它的快乐（损失厌恶解释）。标准的心理学解释是，人们不愿意放弃他们所拥有的物品，仅仅是因为他们将这些物品与自己联系在一起，而不是因为他们认为放弃这些物品会特别痛苦（所有权账户）。由于卖方通常是所有者，损失厌恶和所有权在以前的研究中混淆了禀赋效应。在两个实验中，所有权产生了禀赋效应，但损失厌恶没有。在实验1中，如果买家碰巧已经拥有一个相同的杯子，买家愿意为一个咖啡杯支付和卖家要求的一样多的钱。在实验2中，买方经纪人和卖方经纪人同意杯子的价格，但当他们碰巧拥有与他们交易的杯子相同的杯子时，两个经纪人都以更高的价格交易。简而言之，当买方是所有者而卖方不是所有者时，禀赋效应消失了，这表明在标准实验范式中，所有权而不是损失厌恶导致了禀赋效应。(C)2009 Elsevier Inc. All rights reserved.
People typically demand more to relinquish the goods they own than they would be willing to pay to acquire those goods if they did not already own them (the endowment effect). The standard economic explanation of this phenomenon is that people expect the pain of relinquishing a good to be greater than the pleasure of acquiring it (the loss aversion account). The standard psychological explanation is that people are reluctant to relinquish the goods they own simply because they associate those goods with themselves and not because they expect relinquishing them to be especially painful (the ownership account). Because sellers are usually owners, loss aversion and ownership have been confounded in previous studies of the endowment effect. In two experiments that deconfounded them, ownership produced an endowment effect but loss aversion did not. In Experiment 1, buyers were willing to pay just as much fora coffee mug as sellers demanded if the buyers already happened to own an identical mug. In Experiment 2, buyers' brokers and sellers' brokers agreed on the price of a mug, but both brokers traded at higher prices when they happened to own mugs that were identical to the ones they were trading. In short, the endowment effect disappeared when buyers were owners and when sellers were not, suggesting that ownership and not loss aversion causes the endowment effect in the standard experimental paradigm. (C) 2009 Elsevier Inc. All rights reserved.