Who’s Biased? A Meta-Analysis of Buyer–Seller Differences in the Pricing of Lotteries

@article{Yechiam2017WhosBA,
  title={Who’s Biased? A Meta-Analysis of Buyer–Seller Differences in the Pricing of Lotteries},
  author={Eldad Yechiam and Nathaniel J. S. Ashby and Thorsten Pachur},
  journal={Psychological Bulletin},
  year={2017},
  volume={143},
  pages={543–563}
}
A large body of empirical research has examined the impact of trading perspective on pricing of consumer products, with the typical finding being that selling prices exceed buying prices (i.e., the endowment effect). Using a meta-analytic approach, we examine to what extent the endowment effect also emerges in the pricing of monetary lotteries. As monetary lotteries have a clearly defined normative value, we also assess whether one trading perspective is more biased than the other. We consider… 

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