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.
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.
Liang Huang, University of Arizona, USA
Jennifer Savary, University of Arizona, USA
NA - Advances in Consumer Research Volume 46 | 2018
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