Understanding the Role of Materialism in the Endowment Effect
Past research documents an asymmetry between willingness to pay and willingness to accept. We propose that materialism moderates this ‘endowment effect’. In three experiments evidence is found for a differential influence of materialism on WTP and WTA. Materialistic sellers demand higher prices for an endowment than less materialistic sellers. Material values do not predict buying prices. Increasing the attachment to material values with a mortality salience procedure augments the endowment effect even more, especially for materialists. The influence of materialism cannot be attributed to a mood effect or to an increased desirability of endowments in materialistic sellers.
Inge Lens and Mario Pandelaere (2009) ,"Understanding the Role of Materialism in the Endowment Effect", in NA - Advances in Consumer Research Volume 36, eds. Ann L. McGill and Sharon Shavitt, Duluth, MN : Association for Consumer Research, Pages: 658-659.
Inge Lens, Catholic University Leuven, Belgium
Mario Pandelaere, Catholic University Leuven, Belgium
NA - Advances in Consumer Research Volume 36 | 2009
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