The Trophy Effect
Dados Bibliográficos
| ID | 12166752 |
|---|---|
| Autores | Christoph Bühren (0000-0001-6155-3694, Institute of Economics University of Kassel Kassel Germany, autor correspondente), Marco Pleßner (0000-0003-4059-6016, Institute of Economics University of Kassel Kassel Germany) |
| Ano | 2013 |
| Volume | 27 |
| Fascículo | 4 |
| Páginas | 363-377 |
| Data de publicação | 2013-12-18 |
| Peer Reviewed | Sim |
| Open Access | Sim |
| Tipo | ARTICLE |
| Periódico | Journal of Behavioral Decision Making (JOURNAL) |
| Identificadores do periódico | ISSN: 0894-3257 • E-ISSN: 1099-0771 |
| Editora | Wiley (PUBLISHER • GB) |
| DOI | 10.1002/bdm.1812 |
| OpenAlex | W1497802629 |
| Idioma | EN |
| Citações recebidas | 4 |
| Referências citadas | 53 |
By extending a typical endowment effect experiment with the possibility of winning the endowment in a real effort contest, we found two reinforcing effects that led to a complete market failure. Subjects who won the item in the effortful competition had a very high willingness to accept (trophy winner effect). By contrast, subjects who were not successful had an extremely low willingness to pay for the same item (trophy loser effect). We disentangle different components of these effects and investigate the underlying emotional responses. Further, we analyze the duration of the effects and discuss economic implications. Copyright © 2013 John Wiley & Sons, Ltd
Competition (biology · CONTEST · Contrast (vision · Duration (music · Economics · Endowment · Endowment effect · Microeconomics · Political science · Trophy · Willingness to pay · Computer Science · Decision-Making and Behavioral Economics · Experimental Behavioral Economics Studies · Game Theory and Applications · Law · Psychology · Social Psychology · Artificial Intelligence
The Ikea effect
The impact of endowment heterogeneity and origin on public good contributions
Preferences, Property Rights, and Anonymity in Bargaining Games
Entitlements, Rights, and Fairness
Does Market Experience Eliminate Market Anomalies?
The psychology of sunk cost
The Willingness to Pay–Willingness to Accept Gap, the “Endowment Effect,” Subject Misconceptions, and Experimental Procedures for Eliciting Valuations
Heart Strings and Purse Strings
The “I Designed It Myself” Effect in Mass Customization
Introducing Procedural Utility
Advances in prospect theory
Toward a positive theory of consumer choice
Mood and Audience Effects on Video Lottery Terminal Gambling
Source dependence in the valuation of objects
The role of affect in the WTA/WTP disparity
The role of emotions in the endowment effect
Buying and selling exchange goods
Something from the Oven
Experimental Tests of the Endowment Effect and the Coase Theorem
A Bias in the Prediction of Tastes
Anomalies
Are Economists Different, and If So, Why
The effect of severity of initiation on liking for a group
Focusing on the Forgone
| Obras citantes distintas | 4 |
|---|---|
| Citações por ano | 0,5 |
| Intervalo de citações | 2018 - 2025 (8) |
| Velocidade de citação | recent |
| Altamente citado | Não |
| Tipos de citação | Neutras: 4 |