Sasaki, Shunichiro; Xie, Shiyu; Ōtake, Fumio; Qin, Jie; … - 2006
subjects were more risk averse in the buying experiment than in the selling experiment, suggesting the endowment effect. In the … selling experiment, subjects were risk loving when there was a low win probability and risk averse with a high win probability …, whereas they were risk averse in the buying experiment. Using the prize money won during the experiment as a measure of wealth …