For Whom Is Parting With Possessions More Painful?

@article{Maddux2010ForWI,
  title={For Whom Is Parting With Possessions More Painful?},
  author={William W Maddux and Haiyang Yang and Carl F. Falk and Hajo Adam and Wendi L. Adair and Yumi Endo and Ziv Carmon and Steven J. Heine},
  journal={Psychological Science},
  year={2010},
  volume={21},
  pages={1910 - 1917}
}
The endowment effect—the tendency for owners (potential sellers) to value objects more than potential buyers do—is among the most widely studied judgment and decision-making phenomena. However, the current research is the first to explore whether the effect varies across cultures. Given previously demonstrated cultural differences in self-construals and self-enhancement, we predicted a smaller endowment effect for East Asians compared with Westerners. Two studies involving buyers and sellers of… 

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