The endowment effect and intertemporal choice: a laboratory investigation

William Morrison () and Robert Oxoby

Canadian Journal of Economics, 2013, vol. 46, issue 2, 689-704

Abstract: We present a laboratory investigation of intertemporal choice (i.e., elicited discount rates) allowing for the influence of the endowment effect. Consistent with the previous literature, we hypothesize that the endowment effect in an intertemporal choice setting results in substantially higher discount rates relative to when individuals treat the resources in question as found money. Our results support this hypothesis and our experimental design provides a new protocol for conducting choice experiments wherein the endowment effect is an important determinant of behaviour.

JEL-codes: C91 D91 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (7)

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