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Role of social value orientation in the endowment effect
Author(s) -
Lin ChienHuang,
Lin HungMing
Publication year - 2006
Publication title -
asian journal of social psychology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.5
H-Index - 49
eISSN - 1467-839X
pISSN - 1367-2223
DOI - 10.1111/j.1467-839x.2006.00199.x
Subject(s) - competitor analysis , endowment , endowment effect , prosocial behavior , value (mathematics) , psychology , social value orientations , social psychology , commodity , individualism , orientation (vector space) , microeconomics , economics , political science , management , statistics , market economy , geometry , mathematics , law
The purpose of the present research was to explore the role of social value orientation in the endowment effect. The study gathered 190 participants from university students in Taiwan: 74 of these were classified as individualists, 44 as competitors and 56 as prosocials, with 16 being unclassified. Results from an experimental study indicated that the individualists’ and competitors’ average selling prices were significantly higher than the average buying prices for a commodity; thus the endowment effect was observed in these two orientations. The endowment effect was not observed in those having a prosocial orientation, however.