In a business class experiment on the endowment effect, theo is comparing the value of a coffee mug to someone who owns it and is selling it to someone who is buying it. the endowment effect describes the tendency of sellers to value something they own more than buyers do. participants are randomly assigned to be buyers or sellers of a mug with their first name on it. buyers select the maximum price they would pay for the mug. sellers select the minimum price they would accept for the mug. how does theo control for selection effects?
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Hi inr 2002 class! i just uploaded a detailed study guide for this class. you can check-out a free preview by following the link below feel free to reach-out to me if you need a study buddy or have any questions. goodluck!
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In a business class experiment on the endowment effect, theo is comparing the value of a coffee mug...
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