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The Trophy Effect
By extending a typical endowment effect experiment with the possibility to win the endow-ment in a real effort contest, we found two enforcing effects that led to a complete market failure. Subjects who won the item in the competition had an extremely high willingness to accept (trophy effect). By c...
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| Veröffentlicht in: | MAGKS - Joint Discussion Paper Series in Economics (Band 25-2011) |
|---|---|
| Autoren: | , |
| Format: | Arbeit |
| Sprache: | Englisch |
| Veröffentlicht: |
Philipps-Universität Marburg
2011
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| Schlagworte: | |
| Online-Zugang: | PDF-Volltext |
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MAGKS - Joint Discussion Paper Series in Economics