Successful work – either invested to create or to obtain a product – increases the customer's valuation of the product. These phenomena are called the IKEA and the trophy effect. We test both of them separately as well as combined and find that the trophy winner effect looms larger than the...

Successful work - either invested to create or to obtain a product - increases the customer's valuation of the product. These phenomena are called the IKEA and the trophy effect. We test both of them separately as well as combined and find that the trophy winner effect looms larger than the IKEA...