Role of social value orientation in the endowment effect |
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| Authors: | Chien-Huang Lin Hung-Ming Lin |
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| Institution: | National Central University, Taoyuan and;Ming Hsin University of Science and Technology, Hsinchu, Taiwan |
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| Abstract: | The purpose of the present research was to explore the role of social value orientation in the endowment effect. The study gathered 190 participants from university students in Taiwan: 74 of these were classified as individualists, 44 as competitors and 56 as prosocials, with 16 being unclassified. Results from an experimental study indicated that the individualists' and competitors' average selling prices were significantly higher than the average buying prices for a commodity; thus the endowment effect was observed in these two orientations. The endowment effect was not observed in those having a prosocial orientation, however. |
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| Keywords: | buying prices endowment effect selling prices social value orientation |
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