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A sequential game of endowment effect and natural property rights

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  • Dong, Zhiqiang
  • Zhang, Yongjing

Abstract

This study develops a sequential game between the incumbent and the intruder to examine how endowment effect decides natural property rights of a territory without third-party intervention.

Suggested Citation

  • Dong, Zhiqiang & Zhang, Yongjing, 2016. "A sequential game of endowment effect and natural property rights," Economics Letters, Elsevier, vol. 149(C), pages 108-111.
    • Handle: RePEc:eee:ecolet:v:149:y:2016:i:c:p:108-111
    DOI: 10.1016/j.econlet.2016.10.009
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    References listed on IDEAS

    as
    1. Ross Levine, 2005. "Law, Endowments and Property Rights," Journal of Economic Perspectives, American Economic Association, vol. 19(3), pages 61-88, Summer.
    2. Shane Sanders & Bhavneet Walia, 2014. "Endogenous Destruction in a Model of Armed Conflict: Implications for Conflict Intensity, Welfare, and Third-Party Intervention," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 16(4), pages 606-619, August.
    3. Amegashie, J. Atsu & Kutsoati, Edward, 2007. "(Non)intervention in intra-state conflicts," European Journal of Political Economy, Elsevier, vol. 23(3), pages 754-767, September.
    4. Sayman, Serdar & Onculer, Ayse, 2005. "Effects of study design characteristics on the WTA-WTP disparity: A meta analytical framework," Journal of Economic Psychology, Elsevier, vol. 26(2), pages 289-312, April.
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    6. Gershenson, Dmitriy, 2002. "Sanctions and Civil Conflict," Economica, London School of Economics and Political Science, vol. 69(274), pages 185-206, May.
    7. Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
    8. Chang, Yang-Ming & Sanders, Shane & Walia, Bhavneet, 2015. "The costs of conflict: A choice-theoretic, equilibrium analysis," Economics Letters, Elsevier, vol. 131(C), pages 62-65.
    9. Gintis, Herbert, 2007. "The evolution of private property," Journal of Economic Behavior & Organization, Elsevier, vol. 64(1), pages 1-16, September.
    10. Thaler, Richard, 1980. "Toward a positive theory of consumer choice," Journal of Economic Behavior & Organization, Elsevier, vol. 1(1), pages 39-60, March.
    11. Yang-Ming Chang & Shane Sanders, 2009. "Raising The Cost Of Rebellion: The Role Of Third-Party Intervention In Intrastate Conflict," Defence and Peace Economics, Taylor & Francis Journals, vol. 20(3), pages 149-169.
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    More about this item

    Keywords

    Endowment effect; Contestability; Natural property rights;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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