Microsoft Word - Uncertain utilities.working paper.docx
Microsoft Word - Uncertain utilities.working paper.docx 1 Uncertain utilities, belief dynamics and the endowment effect Peter Gärdenfors Lund University Cognitive Science Peter.Gardenfors@lucs.lu.se 1. Introduction The endowment effect is the finding that people who own a good value it more than people who do not. The effect shows up as a difference between willingness to pay (WTP) and willingness
https://www.lucs.lu.se/fileadmin/user_upload/project/lucs/LUCS-pub/LUCS-173.pdf - 2025-08-23