Promothesh Chatterjee|Caglar Irmak|Randall L. Rose
The Endowment Effect as Self-Enhancement in Response to Threat
University of Georgia|University of Kansas|University of South Carolina|University of Georgia|University of Kansas|University of South Carolina|University of Georgia|University of Kansas|University of South Carolina
discrepancy willingness pay wtp willingness accept wta product referred endowment effect investigated replicated across various domains implications rational decision makingthe authors assume implicit processes operate endowment effect propose explanation derived two main accounts effect ownership loss aversionbased implicit egotism selfaffirmation literatures model argues selling perceived implicit selfthreat sellers part automatic defense mechanism respond selfthreat enhancing value selfassociated objectfive studies test conjectures provide support proposed modela part depression loss possessions due feeling must go without certain goods expected possessions bring train yet every case remains sense shrinkage personality partial conversion nothingness psychological phenomenon itselfwilliam james consciousness self 293 ince william jamess classic work 1890 psycholo gists linked self physical mental also material possessions eg belk 1988wicklund gollwitzer 1982while stream research recognizes intermingling self possessions influences possession viewed beggan 1992 endowment effect literature examines people value