Endowment Effect as Self-Enhancement in Response to Threat
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Issue Date
2013-10-03Author
Chatterjee, Promothesh
Irmak, Caglar
Rose, Randall L.
Publisher
University of Chicago Press
Type
Article
Article Version
Scholarly/refereed, publisher version
Metadata
Show full item recordAbstract
The discrepancy between willingness to pay (WTP) and willingness to accept (WTA) for a product, referred to as the endowment effect, has been investigated and replicated across various domains because of its implications for rational decision making. The authors assume that implicit processes operate in the endowment effect and propose an explanation that is derived from the two main accounts of the effect, ownership and loss aversion. Based on the implicit egotism and self-affirmation literatures, the model argues that selling is perceived as an implicit self-threat and that sellers, as a part of their automatic defense mechanism, respond to this self-threat by enhancing the value of the self-associated object. Five studies test these conjectures and provide support for the proposed model.
Description
This is the publisher's version, also available electronically from http://www.jstor.org/stable/info/10.1086/671344.
ISSN
0093-5301Collections
Citation
Promothesh Chatterjee, Caglar Irmak, and Randall L. Rose . 2013. “The Endowment Effect as Self-Enhancement in Response to Threat.” Journal of Consumer Research 40(3): 460-476. http://dx.doi.org/10.1086/671344
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