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The Analysis on the Endowment Effect

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

Author

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  • Linghan Yi

    (Beijing New FuXue Foreign Language School)

Abstract

The endowment effect is very common in real life, and it can affect people’s life in many aspects. It can affect the market efficiency, causing the consumers to have an extra cost and an opportunity cost, which will have a bad effect on society, and influence the government in making decisions. So in order to solve these problems, studying the endowment effect seems very important. And these experiments will mainly focus on how the endowment effect may affect the people. This paper will mainly focus on three experiments, and they all show that when people once own an object, the value of the object in their opinion will increase a lot, but that object needs to be an item with real value, not like currency or voucher that kind of thing which does not have a real value.

Suggested Citation

  • Linghan Yi, 2022. "The Analysis on the Endowment Effect," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 566-571, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_66
    DOI: 10.2991/978-94-6463-052-7_66
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