Chapman, Jonathan; Dean, Mark; Ortoleva, Pietro; … - 2023
We use four incentivized representative surveys to study the endowment effect for lotteries in 4,000 U.S. adults. We … replicate the standard finding of an endowment effect-the divergence between Willingness to Accept (WTA) and Willingness to Pay … (WTP), but document three new findings. First, we find little evidence that the endowment effect is related to loss …