TY  - GEN
AU  - van Boven, Leaf
AU  - Dunning, David
AU  - Loewenstein, George
SN  - 0022-3514
AU  - van Boven, Leaf
AU  - Dunning, David
AU  - Loewenstein, George
LA  - eng
CN  - ENP-1c8d54b9-d0fc-44fb-a191-160e526c35d2
TI  - Egocentric empathy gaps between owners and buyers: misperceptions of the endowment effect
PY  - 2000
AB  - In 5 studies, the authors examined people's perceptions of the endowment effect, or the tendency to value an object more once one owns it. In the 1st 2 studies, the authors documented egocentric empathy gaps between owners and buyers regarding the endowment effect: Both owners and buyers overestimated the similarity between their own valuation of a commodity and the valuation of people in the other role. The next 2 studies showed that these empathy gaps may lead to reduced earnings in a market setting. The final study showed that egocentric empathy gaps stem partly from people's misprediction of what their own valuation would be if they were in the other role.
ER  -