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Keywords: Endowment effect
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Journal Articles
Why the endowment effect reflects unbiased smart decision-making and can increase the willingness to trade
Available to Purchase
Journal:
Review of Behavioral Economics
Review of Behavioral Economics 1–15.
Published: 09 June 2026
...Morris Altman This paper reinterprets the endowment effect, as revealed in the classic mug experiments by Kahneman, Knetsch and Thaler, not as evidence of cognitive bias, but as an expression of rational, context-sensitive behaviour. Building on Knetsch’s legacy and Lancaster’s product...
