This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window
Open in New Tab
Open in same window
American Economic Review: Vol. 102 No. 3 (May 2012)
AER Volume. 102, Issue 3 | 
Previous ArticleNext Article
Sign up for Email Alerts Follow us on Twitter
AER Forthcoming Articles
Full-text Article
Previous ArticleNext Article
Expand
Quick Tools:
Print Article Summary Email Link to this Article Export CitationSign up for Email Alerts Follow us on Twitter
Explore:
AER Forthcoming Articles
Salience in Experimental Tests of the Endowment Effect
Article Citation
Bordalo, Pedro,
Nicola Gennaioli, and
Andrei Shleifer. 2012. "Salience in Experimental Tests of the Endowment Effect."
American Economic Review,
102(3): 47-52.
DOI: 10.1257/aer.102.3.47
DOI: 10.1257/aer.102.3.47
Abstract
We provide a novel account of experimental evidence for the endowment effect using the salience mechanism (Bordalo, Gennaioli, and Shleifer, 2011). The two-stage procedure implemented in experiments implies that the endowed good and other goods are evaluated in different contexts. We describe conditions under which the standard effect occurs, but also account for recent evidence such as a reverse endowment effect for bads and a role for reference prices in modulating the WTA-WTP gap.
Article Full-Text Access
Full-text Article
Authors
Bordalo, Pedro (Royal Holloway, U London)
Gennaioli, Nicola (CREI, U Pompeu Fabra and Barcelona Graduate School of Economics)
Shleifer, Andrei (Harvard U)
Gennaioli, Nicola (CREI, U Pompeu Fabra and Barcelona Graduate School of Economics)
Shleifer, Andrei (Harvard U)
JEL Classifications
D63: Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D11: Consumer Economics: Theory
D81: Criteria for Decision-Making under Risk and Uncertainty
D11: Consumer Economics: Theory
D81: Criteria for Decision-Making under Risk and Uncertainty
