@techreport{Huck2003Learning,
abstract = {The endowment effect describes the fact that people demand much
more to give up an object than they are willing to spend to acquire it.
The existence of this effect has been documented in numerous exper-
iments. We attempt to explain this effect by showing that evolution
favors individuals whose preferences embody an endowment effect. The
reason is that an endowment effect improves one`s bargaining position
in bilateral trades. We show that for a general class of evolutionary
processes strictly positive endowment effects will survive in the long
run.},
author = {Steffen Huck and Georg Kirchsteiger and J\"{o}rg Oechssler},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C79; C73; D00; 330; endowment effect; evolution; bargaining; Verhandlungen; Willingness to pay; Evolutions\"{o}konomik; Theorie},
language = {eng},
number = {2003,5},
title = {Learning to Like What You Have: Explaining the Endowment Effect},
type = {Bonn econ discussion papers},
url = {http://hdl.handle.net/10419/22833},
year = {2003}
}
