Počet záznamů: 1
Reconsidering the effect of market experience on the “endowment effect”
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SYSNO ASEP 0351612 Druh ASEP J - Článek v odborném periodiku Zařazení RIV J - Článek v odborném periodiku Poddruh J Článek ve WOS Název Reconsidering the effect of market experience on the “endowment effect” Tvůrce(i) Engelmann, Dirk (NHU-N) RID
Hollard, G. (FR)Zdroj.dok. Econometrica. - : Wiley - ISSN 0012-9682
Roč. 78, č. 6 (2010), s. 2005-2019Poč.str. 15 s. Jazyk dok. eng - angličtina Země vyd. GB - Velká Británie Klíč. slova endowment effect ; exchange asymmetry ; market experience Vědní obor RIV AH - Ekonomie CEZ AV0Z70850503 - NHU-N (2005-2011) UT WOS 000284964500007 EID SCOPUS 78650055310 DOI 10.3982/ECTA8424 Anotace Simple exchange experiments have revealed that participants trade their endowment less frequently than standard demand theory would predict. List (2003a) found that the most experienced dealers acting in a well functioning market are not subject to this exchange asymmetry, suggesting that a significant amount of market experience is required to overcome it. To understand this market-experience effect, we introduce a distinction between two types of uncertainty—choice uncertainty and trade uncertainty—both of which could lead to exchange asymmetry. We conjecture that trade uncertainty is most important for exchange asymmetry. To test this conjecture, we design an experiment where the two treatments impact differently on trade uncertainty, while controlling for choice uncertainty. Pracoviště Národohospodářský ústav Kontakt Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Rok sběru 2011
Počet záznamů: 1