The Effect of Ownership History on the Valuation of Objects

  title={The Effect of Ownership History on the Valuation of Objects},
  author={M. Strahilevitz and G. Loewenstein},
  journal={ERN: Primary Taxonomy (Topic)},
Previous work on the endowment effect has demonstrated that current ownership status affects object valuation and that this effect occurs instantaneously on possession of an object. The current work presents findings from four studies which indicate that the history of past ownership can also affect object valuation. For objects currently in one's possession, we find that valuation increases with duration of ownership. For objects not in one's possession, previous ownership experience increases… Expand
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Willingness to Pay
  • B. O'brien, J. L. Viramontes
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Large variation in WTP responses may compromise this measure's discriminant validity, but there is some evidence of convergent validity for WTP with preferences measured by standard gamble, and the test-retest reliability of WTP is comparable to those of other preference measures. Expand