Resource title

WTP vs. WTA: christmas presents and the endowment effect

Resource image

image for OpenScout resource :: WTP vs. WTA: christmas presents and the endowment effect

Resource description

Using data on the valuation of Christmas gifts received by students in different fields at a German university, we investigate whether the endowment effect differs between students of economics and other respondents and whether it varies with the market price of the object under consideration. Our estimation results suggest that economics students have both, a significant lower WTP and WTA, indicating that existing studies on the efficiency loss of holiday gifts and experimental studies on the endowment effect that rely on data from economics students may be biased. The result further indicate that the endowment effect is independent of the market price of the object.

Resource author

Thomas K. Bauer, Christoph M. Schmidt

Resource publisher

Resource publish date

Resource language

eng

Resource content type

text/html

Resource resource URL

http://hdl.handle.net/10419/26841

Resource license

Adapt according to the presented license agreement and reference the original author.