Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei - In: American Economic Review 102 (2012) 3, pp. 47-52
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...