The Limits of Fungibility: Relational Schemata and the Value of Things
@article{McGraw2002TheLO, title={The Limits of Fungibility: Relational Schemata and the Value of Things}, author={A. Peter McGraw and Philip E. Tetlock and Orie V Kristel}, journal={ERN: Experimental Individual Decision Making (Topic)}, year={2002} }
Four experiments test predictions on endowment and mental accounting effects of a theoretical perspective that stresses the symbolic-relational significance for consumer transactions and that posits the placement of qualitative boundaries on fungibility. Although people accepted proposals to buy objects acquired in market-pricing relationships as routine, the same proposals in communal-sharing, authority-ranking, and equality-matching relationships triggered distress and erratically high dollar…
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