Are Children Better Behaved than Adults? Age, Experience and the Endowment Effect

William Harbaugh (), Catherine Krause and Lise Vesterlund ()

Staff General Research Papers from Iowa State University, Department of Economics

Abstract: We find that large increases in age do not reduce the endowment effect, supporting the hypothesis that people have reference-dependent preferences which are not changed by repeated experience getting and giving up goods.

Keywords: Endowment effect; Prospect theory; Reference dependence; Experimental economics (search for similar items in EconPapers)
Date: 2001-04-09

Published in Economics Letters, February 2001, Vol. 70, No. 2, pp. 175-181.

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Persistent link: http://EconPapers.repec.org/RePEc:isu:genres:1950

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