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2013-07-13
I am writing to ask if anyone is studying individual decision, especially about the endowment effect.
endowment effect is the basis of loss aversion which is major component of prospect theory. The fundamental experiment of the endowment effect has been questioned by Plott and Zeiler (2005, 2007). They employ procedure controls according to traditional economic theory in their experiments and turn off the gap between WTA/WTP as well as the asymmetry of exchange. The two papers are published on AER. I am currently studying the endowment effect and have read a few papers on this topic. I am happy to have someone to communicate with.  
To be informative, the related papers are attached.
附件列表

Kahneman1990.pdf

大小:2.06 MB

 马上下载

Original WTA-WTP Gap Experiment

Plott2005.pdf

大小:151.71 KB

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PZ's Experiment Test of Gap

Plott2007.pdf

大小:193.7 KB

 马上下载

PZ's Experiment Test of Exchange Asymmetry

Knetsch_Wong_paper.pdf

大小:50.18 KB

 马上下载

Knetsch's Different interpertation

Knetsch1989.pdf

大小:982.11 KB

 马上下载

Original Exchange Experiment

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2013-7-15 18:46:17
what do you want to communicate for?
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2013-7-15 18:47:00
you have a research question or some specific questions?
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2013-7-25 13:38:52
十步天下 发表于 2013-7-15 18:47
you have a research question or some specific questions?
I think that it is a big step for traditional theory to fight back by challenging the prospect theory which claims people are generally irrational. However, a complete theory should be proposed to explain more effects. I think it is very important to see from a total different view, not just to follow others. PZ are very good examples.

Currently, I was just trying to read experiments and found it a little bit boring. So I think maybe some discussion will help.
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2013-7-25 15:48:17
i suggest you read a bit more and rethink about it.
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