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Endowment Effect and Market Effect: Revisited

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  • Fishelson, Gideon

Abstract

The question regarding the determinants of the earning differential between two population groups at a given time period, and of its evolvement over time has been given continuous attention over the past three decades. The difference of the market prices of various endowments has also been called "discrimination" and measures were suggested for its quantification. In this study we present alternative formulations for the evaluation of the endowments vs. the market factors. We recommend the one which is the most consistent and symmetric over groups and show its performance for U.S. data.

Suggested Citation

  • Fishelson, Gideon, 1992. "Endowment Effect and Market Effect: Revisited," Foerder Institute for Economic Research Working Papers 275570, Tel-Aviv University > Foerder Institute for Economic Research.
    • Handle: RePEc:ags:isfiwp:275570
    DOI: 10.22004/ag.econ.275570
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    References listed on IDEAS

    as
    1. Alan S. Blinder, 1973. "Wage Discrimination: Reduced Form and Structural Estimates," Journal of Human Resources, University of Wisconsin Press, vol. 8(4), pages 436-455.
    2. Donohue, John J, III & Heckman, James, 1991. "Continuous versus Episodic Change: The Impact of Civil Rights Policy on the Economic Status of Blacks," Journal of Economic Literature, American Economic Association, vol. 29(4), pages 1603-1643, December.
    3. David Card & Alan B. Krueger, 1992. "School Quality and Black-White Relative Earnings: A Direct Assessment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(1), pages 151-200.
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