The Endowment Effect: Unique Predictions From a Cognitive Elaboration Account
The endowment effect is a widely documented phenomenon whereby sellers demand a higher price for the same good relative to buyers. This work proposes a novel account for the endowment effect based on cognitive elaboration. This cognitive elaboration account provides new predictions about when endowment increases versus decreases consumers’ evaluations.
Citation:
Christopher Cannon, Derek Rucker, and David Gal (2020) ,"The Endowment Effect: Unique Predictions From a Cognitive Elaboration Account", in NA - Advances in Consumer Research Volume 48, eds. Jennifer Argo, Tina M. Lowrey, and Hope Jensen Schau, Duluth, MN : Association for Consumer Research, Pages: 254-255.
Authors
Christopher Cannon, University of Hawaii, USA
Derek Rucker, Northwestern University, USA
David Gal, University of Illinois at Chicago, USA
Volume
NA - Advances in Consumer Research Volume 48 | 2020
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