Economic Transactions among Friends

Asymmetric Generosity But not Agreement in Buyers' and Sellers' Offers

Datos Bibliográficos

ID6285895
AutoresDavid R Mandel (0000-0003-1036-2286, Judgment and Decision Making Group, Defence Research and Development Canada, autor de correspondencia)
Año2006
Volumen50
Número4
Páginas584-606
Fecha de publicación2006-08-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaJournal of Conflict Resolution (JOURNAL)
Identificadores de la revistaISSN: 0022-0027 • E-ISSN: 1552-8766
EditorialSAGE Publications Inc (PUBLISHER)
DOI10.1177/0022002706290432
OpenAlexW2009386370
IdiomaEN
Citas recibidas11
Referencias citadas46

Two experiments tested the idea that economic transactions among friends are influenced by a norm of generosity. Whereas a fairness norm ought to promote agreement in offers between buyers and sellers, a generosity norm should promote altruistic disagreements caused by sellers offering lower prices than buyers—a reversal of the well-known endowment effect. Supporting the present account, in both studies, offers among friends showed a reversal of the endowment effect. Moreover, disagreement in buying and selling offers was stronger among friends than among acquaintances, and (in study 2) the perceived generosity of offers, but not their perceived fairness, mediated this effect. Finally, both studies demonstrated that generosity is asymmetric: whereas selling offers among friends were generous by all comparative standards, buying offers were not

Business · Conflict of interest · Economics · Endowment · Endowment effect · Generosity · Gift giving · Microeconomics · Norm (philosophy · Political science · Reciprocity (cultural anthropology · Culture, Economy, and Development Studies · Decision-Making and Behavioral Economics · Experimental Behavioral Economics Studies · Law · Psychology · Social Psychology