Attenuating Endowment Effect With Venmo: Online Payment Systems Make It a Pleasure to Pay
The endowment effect where sellers ask for higher prices than buyers’ willingness to pay causes market inefficiency. We demonstrate an easy-to-implement market strategy to solve the problem. The use of online payment systems increases buyers’ willingness to pay and thus attenuates endowment effect.
Citation:
Liang Huang and Jennifer Savary (2018) ,"Attenuating Endowment Effect With Venmo: Online Payment Systems Make It a Pleasure to Pay", in NA - Advances in Consumer Research Volume 46, eds. Andrew Gershoff, Robert Kozinets, and Tiffany White, Duluth, MN : Association for Consumer Research, Pages: 600-602.
Authors
Liang Huang, University of Arizona, USA
Jennifer Savary, University of Arizona, USA
Volume
NA - Advances in Consumer Research Volume 46 | 2018
Share Proceeding
Featured papers
See MoreFeatured
Conjuring Creativity: The Impact of Fear
Ilgım Dara Benoit, Appalachian State University
Elizabeth Miller, University of Massachusetts, USA
Featured
G6. Brightness Increases More Positive Views of Humanity and Prosocial Behavior of People Low in Moral Identity Internalization
Jun Yan, University of Manitoba, Canada
Luke Zhu, University of Manitoba, Canada
Fang Wan, University of Manitoba, Canada
Featured
The Subjective Experience of Goal Failure: How Choosing the Lesser Evil Eradicates the Negative Consequences of Goal Failure
Kamila Sobol, Concordia University, Canada