Evolutionary Origins of the Endowment Effect: Evidence from Hunter-Gatherers

@article{Apicella2014EvolutionaryOO,
  title={Evolutionary Origins of the Endowment Effect: Evidence from Hunter-Gatherers},
  author={Coren L. Apicella and Eduardo M. Azevedo and Nicholas A. Christakis and James H. Fowler},
  journal={The American Economic Review},
  year={2014},
  volume={104},
  pages={1793-1805}
}
The endowment effect, the tendency to value possessions more than non-possessions, is a well known departure from rational choice and has been replicated in numerous settings. We investigate the universality of the endowment effect, its evolutionary significance, and its dependence on environmental factors. We experimentally test for the endowment effect in an isolated and evolutionarily relevant population of hunter-gatherers, the Hadza Bushmen of Northern Tanzania. We find that Hadza living… 

Figures and Tables from this paper

Evolutionary Origins of the Endowment Effect: Evidence from Hunter-Gatherers
The endowment effect, the tendency to value possessions more than non-possessions, is a well known departure from rational choice and has been replicated in numerous settings. We investigate the
Evolutionary Origins of the Endowment Effect : Evidence from Hunter-Gatherers †
The endowment effect, the tendency to value possessions more than non-possessions, is a well-known departure from rational choice and has been replicated in numerous settings. We investigate the
The Endowment Effect
The endowment effect is among the best known findings in behavioral economics and has been used as evidence for theories of reference-dependent preferences and loss aversion. However, a recent
Ancient Origins of the Global Variation in Economic Preferences
Variation in economic preferences is systematically related to both individual and aggregate economic outcomes, yet little is known about the origins of the worldwide preference variation. This paper
Hunter-gatherers maintain assortativity in cooperation despite high-levels of residential change and mixing
TLDR
Analysis of residence and levels of cooperation elicited from a public goods game, in Hadza hunter-gatherers of Tanzania suggests that the strongest predictor of an individual’s level of cooperation in any given year is the mean cooperation of their campmates in that year.
Hunter‐Gatherer Families and Parenting
Our species is characterized by extraordinary biological success, which we owe, in large part, to our ability to cooperate. This cooperation extends beyond the pair bond to extended kin, affines, and
Influence of The Endowment Effect on The Valuation of Goods. An Experimental Verification
Abstract The article refers to the issue of the endowment effect, which acts as a mechanism that influences valuation. The paper’s main aim is to verify the endowment effect phenomenon for branded,
...
1
2
3
4
5
...

References

SHOWING 1-10 OF 52 REFERENCES
Evolutionary Origins of the Endowment Effect: Evidence from Hunter-Gatherers
The endowment effect, the tendency to value possessions more than non-possessions, is a well known departure from rational choice and has been replicated in numerous settings. We investigate the
Evolutionary Origins of the Endowment Effect : Evidence from Hunter-Gatherers †
The endowment effect, the tendency to value possessions more than non-possessions, is a well-known departure from rational choice and has been replicated in numerous settings. We investigate the
Evolution and the Expression of Biases: Situational Value Changes The Endowment Effect in Chimpanzees
Endowment Effects in Chimpanzees
Learning to Like What You Have - Explaining the Endowment Effect
The endowment effect describes the fact that people demand much more to give up an object than they are willing to spend to acquire it. The existence of this effect has been documented in numerous
For Whom Is Parting With Possessions More Painful?
TLDR
The endowment effect may be influenced by the degree to which independence and self-enhancement are culturally valued or normative, and this research is the first to explore whether the effect varies across cultures.
Costly Punishment Across Human Societies
TLDR
Experimental results from 15 diverse populations show that all populations demonstrate some willingness to administer costly punishment as unequal behavior increases, and the magnitude of this punishment varies substantially across populations, and costly punishment positively covaries with altruistic behavior across populations.
In Search of Homo Economicus: Behavioral Experiments in 15 Small- Scale Societies
We can summarize our results as follows. First, the canonical model is not supported in any society studied. Second, there is considerably more behavioral variability across groups than had been
Hadza meat sharing.
Endowment as a blessing
We study the idea that seemingly unrelated behavioral biases can coevolve if they jointly compensate for the errors that any one of them would give rise to in isolation. We pay specific attention to
...
1
2
3
4
5
...