Is the Endowment Effect a Reference Effect?

Ori Heffetz, John A. List

NBER Working Paper No. 16715
Issued in January 2011

---- Acknowledgements -----

Corresponding author: Ori Heffetz. We thank Daniel Benjamin, Daniel Kahneman, Botond Koszegi, Ted O'Donoghue, and Matthew Rabin for helpful discussions; seminar participants at Cornell, the ESA North American Meetings, Hebrew University, UCSD, and University of Pittsburgh for useful comments; and Sean Garborg for excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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