Bischoff, Ivo; Meckl, Jürgen - In: Journal of Behavioral and Experimental Economics … 37 (2008) 5, pp. 1768-1774
According to endowment effect theory, the observed difference between the willingness to pay for a good and the willingness to accept retribution payments for giving up that good can be caused either by a disutility from parting or by an extra ownership utility. We analyze the welfare...