The endowment effect: bibliometric analysis and systematic literature review of over 40 years

Purpose This paper synthesizes four decades of research on the endowment effect to clarify its theoretical foundations, empirical developments, and relevance across domains, while identifying key gaps for future behavioral economics research. Design/methodology/approach A structured literature review and bibliometric analysis are conducted on 680 peer-reviewed publications from the past 40 years. Citation networks, thematic clusters, and temporal trends are analyzed to map the evolution of the field. Findings Results show steady growth in endowment effect research, with loss aversion and psychological ownership as dominant explanations. Applications extend beyond consumer choice to finance, policy, and law. Recent studies increasingly address boundary conditions, cultural differences, and methodological rigor, reflecting a more mature and diversified literature. Originality This study offers the first large-scale bibliometric overview of endowment effect research, combining quantitative mapping with qualitative synthesis to provide a concise, integrative perspective and highlight promising directions for future work.