Anomalies

Kahneman, D., Knetsch, & Thaler, R. H. (1991). Anomalies: The endowment effect, loss aversion, and status quo bias. Journal of Economic Perspectives, 5(1), 193-206.

Type

Journal article

Intellectual base

Primary research

Year

1991

Link

https://doi.org/10.1257/jep.5.1.193verified

Cited from

behavioral_economics, law_governance

Cited by

2 citations across 2 artifacts.

Each citation links to the sentence it supports in the citing article.

Primes

• Loss Aversion
  • The Kahneman-Knetsch-Thaler (1991)

    This sourceDocuments the behavioral mechanism making defaults sticky in practice: parties value rights they hold under the default substantially more than equivalent rights they would have to bargain for, so defaults are not neutral starting points but quasi-anchors shaping final allocations.

• Mandatory vs. Default Norms
  • Kahneman, Knetsch, and Thaler (1991) supply the behavioral mechanism that makes such defaults sticky in practice: endowment effects and loss aversion mean parties value the rights they hold under the default substantially more than equivalent rights they would have to bargain for, so defaults are not merely starting points but quasi-anchors that shape final allocations even when transaction costs are low.

    This sourceDocuments the behavioral mechanism making defaults sticky in practice: parties value rights they hold under the default substantially more than equivalent rights they would have to bargain for, so defaults are not neutral starting points but quasi-anchors shaping final allocations.

Verification

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Registry ID ref:9741a646eeca · see in the full table