Research on psychological ownership is prevalent in the consumer domain. This article
details the theoretical core of psychological ownership, integrating research in consumer …

The endowment effect is the tendency for people who own a good to value it more than
people who do not. Its economic impact is consequential. It creates market inefficiencies and …

Loss aversion can occur in riskless and risky choices. We present novel evidence on both in
a non-student sample (660 randomly selected customers of a car manufacturer). We …

We present an empirical study of willingness-to-pay for protecting information (we term it
willingness-to-protect) and willingness-to-accept a proposal to sell information (willingness …

Systematic asymmetries in exchange behavior have been widely interpreted as support for
“endowment effect theory,” an application of prospect theory positing that loss aversion and …

Do consumers value data privacy? How much? In a survey of 2,416 Americans, we find that
the median consumer is willing to pay just 5permonthtomaintaindataprivacy …

Experimental studies have shown that subjects exhibit a systematic endowment effect. No
acceptable explanation for the existence of this behavior has been offered. This paper …

The endowment effect, the tendency to value possessions more than non-possessions, is a
well-known departure from rational choice and has been replicated in numerous settings …

Experimental results on the ultimatum game show clearly that (1) large fractions of players
offer a “fair” allocation and (2) that unfair (but positive) offers are systematically rejected. We …

The study of evolutionary dynamics was so far mainly restricted to finite strategy spaces. In
this paper we show that this unsatisfying restriction is unnecessary. We specify a simple …