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Endowment effect

Ben Depoorter (UGent) and Sven Höppner (UGent)
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Abstract
A vast body of experimental studies in psychology and economics finds that individuals tend to value goods more and demand higher prices when they own the goods than they would be willing to pay for the good when they do not already own it. Although research on the endowment effect has been done for more than three decades, it’s theory, empirical methodology, results, and implications continue to be topics of intense discussion among economists, lawyers and psychologists. In this entry, we review the theoretical framework and empirical evidence on the endowment effect and highlight some implications for law and economics research.
Keywords
Endowment Effect, Economic Theory of Law

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Citation

Please use this url to cite or link to this publication:

MLA
Depoorter, Ben, and Sven Höppner. “Endowment Effect.” Encyclopedia of Law and Economics. Ed. Jürgen G Backhaus. New York, NY, USA: Springer, 2014. 1–9. Print.
APA
Depoorter, B., & Höppner, S. (2014). Endowment effect. In Jürgen G Backhaus (Ed.), Encyclopedia of law and economics (pp. 1–9). New York, NY, USA: Springer.
Chicago author-date
Depoorter, Ben, and Sven Höppner. 2014. “Endowment Effect.” In Encyclopedia of Law and Economics, ed. Jürgen G Backhaus, 1–9. New York, NY, USA: Springer.
Chicago author-date (all authors)
Depoorter, Ben, and Sven Höppner. 2014. “Endowment Effect.” In Encyclopedia of Law and Economics, ed. Jürgen G Backhaus, 1–9. New York, NY, USA: Springer.
Vancouver
1.
Depoorter B, Höppner S. Endowment effect. In: Backhaus JG, editor. Encyclopedia of law and economics. New York, NY, USA: Springer; 2014. p. 1–9.
IEEE
[1]
B. Depoorter and S. Höppner, “Endowment effect,” in Encyclopedia of law and economics, J. G. Backhaus, Ed. New York, NY, USA: Springer, 2014, pp. 1–9.
@incollection{5730727,
  abstract     = {A vast body of experimental studies in psychology and economics finds that individuals tend to value goods more and demand higher prices when they own the goods than they would be willing to pay for the good when they do not already own it. Although research on the endowment effect has been done for more than three decades, it’s theory, empirical methodology, results, and implications continue to be topics of intense discussion among economists, lawyers and psychologists. In this entry, we review the theoretical framework and empirical evidence on the endowment effect and highlight some implications for law and economics research.},
  author       = {Depoorter, Ben and Höppner, Sven},
  booktitle    = {Encyclopedia of law and economics},
  editor       = {Backhaus, Jürgen G},
  isbn         = {9781461477525},
  keywords     = {Endowment Effect,Economic Theory of Law},
  language     = {eng},
  pages        = {1--9},
  publisher    = {Springer},
  title        = {Endowment effect},
  url          = {http://www.springerreference.com/docs/html/chapterdbid/435022.html},
  year         = {2014},
}