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
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