Lack of prevalence of the endowment effect: an equilibrium analysis

DOI10.1016/J.JMATECO.2022.102763MaRDI QIDQ2092789zbMATH OpenOpenAlexFDO

Authors Yanyan Li

Publication date 3 November 2022

Published in Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1016/j.jmateco.2022.102763

zbMATH Keywords

aggregate riskambiguitygeneral equilibriumloss aversionprospect theoryrisk-loving

Mathematics Subject Classification ID

Utility theory (91B16) General equilibrium theory (91B50)

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Cites work

• A model of reference-dependent preferences
• A parametric analysis of prospect theory's functionals for the general population
• A Theory of Disappointment Aversion
• A tractable method to measure utility and loss aversion under prospect theory
• Advances in prospect theory: cumulative representation of uncertainty
• Disappointment and Dynamic Consistency in Choice under Uncertainty
• Disappointment in Decision Making Under Uncertainty
• Financial market equilibria with cumulative prospect theory
• Gender, financial risk, and probability weights
• General equilibrium with uncertainty loving preferences
• General equilibrium, markets, macroeconomics and money in a laboratory experimental environment
• Is probability weighting sensitive to the magnitude of consequences? An experimental investigation on losses
• Neoclassical Theory Versus Prospect Theory: Evidence from the Marketplace
• Optimal risk-sharing rules and equilibria with Choquet-expected-utility.
• Parameter-Free Elicitation of Utility and Probability Weighting Functions
• Risk-neutral firms can extract unbounded profits from consumers with prospect theory preferences
• Subjective Beliefs and ex ante Trade
• Subjective Probability and Expected Utility without Additivity

Cited in

(9)

• Endogenous endowments and equilibrium starvation in a Walrasian economy
• The endowment effect, status quo bias and loss aversion: Rational alternative explanation
• Intransitivity of indifference, strong monotonicity, and the endowment effect
• Endowment effects in the risky investment game?
• The endowment effect on Academic chores trade-off (ACTO)
• Money matters: an axiomatic theory of the endowment effect
• Are adults better behaved than children? Age, experience, and the endowment effect
• Risk loving and fat tails in the wealth distribution
• Endowment effects? ``Even with half a million on the table!

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