The effect of initial endowments in experimental auctions

被引：48

作者：

Corrigan, JR ^{[1
]}

Rousu, MC

机构：

[1] Kenyon Coll, Dept Econ, Gambier, OH 43022 USA

[2] Susquehanna Univ, Dept Econ, Selinsgrove, PA 17870 USA

来源：

AMERICAN JOURNAL OF AGRICULTURAL ECONOMICS | 2006年 / 88卷 / 02期

关键词：

endowment effect; experimental auctions; reciprocity; top-dog effect;

D O I：

10.1111/j.1467-8276.2006.00870.x

中图分类号：

F3 [农业经济];

学科分类号：

0202 ; 020205 ; 1203 ;

摘要：

We report the results of an experiment designed to test whether initial endowments affect value estimates elicited from experimental auctions. Comparing bids for one unit of a good, two units of a good, and a second unit of a good when endowed with the first unit, we find that willingness to pay for the second unit of a good is, on average, as much as 75% higher when endowed with the first unit. We go on to advance two theories that could potentially reconcile our results with neoclassical consumer theory.

引用

页码：448 / 457

页数：10

共 52 条

[41] OPPORTUNITY COSTS - FURTHER EVIDENCE THROUGH AN EXPERIMENTAL REPLICATION [J].