The Endowment Effect as Self-Enhancement in Response to Threat

被引:56
作者
Chatterjee, Promothesh [1 ]
Irmak, Caglar [2 ]
Rose, Randall L. [3 ]
机构
[1] Univ Kansas, Sch Business, Lawrence, KS 66045 USA
[2] Univ Georgia, Terry Coll Business, Athens, GA 30602 USA
[3] Univ S Carolina, Moore Sch Business, Columbia, SC 29208 USA
关键词
LOSS AVERSION; IMPLICIT EGOTISM; DECISION-MAKING; CONSUMER CHOICE; NEURAL BASIS; AFFIRMATION; OWNERSHIP; ESTEEM; POSSESSIONS; ATTACHMENT;
D O I
10.1086/671344
中图分类号
F [经济];
学科分类号
02 ;
摘要
The discrepancy between willingness to pay (WTP) and willingness to accept (WTA) for a product, referred to as the endowment effect, has been investigated and replicated across various domains because of its implications for rational decision making. The authors assume that implicit processes operate in the endowment effect and propose an explanation that is derived from the two main accounts of the effect, ownership and loss aversion. Based on the implicit egotism and self-affirmation literatures, the model argues that selling is perceived as an implicit self-threat and that sellers, as a part of their automatic defense mechanism, respond to this self-threat by enhancing the value of the self-associated object. Five studies test these conjectures and provide support for the proposed model.
引用
收藏
页码:460 / 476
页数:17
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