Supplemental Material for The Endowment Effect and Beliefs About the Market

  title={Supplemental Material for The Endowment Effect and Beliefs About the Market},
  author={Elena Achtypi and Nathaniel J. S. Ashby and Gordon D. A. Brown and Lukasz Walasek and Eldad Yechiam},
The endowment effect occurs when people assign a higher value to an item they own than to the same item when they do not own it, and this effect is often taken to reflect an ownership-induced change in the intrinsic value people assign to the object. However recent evidence shows that valuations made by buyers and sellers are influenced by market prices provided for the individual products, suggesting a role for beliefs about the markets. Here we elicit individuals’ beliefs about whole… 

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