The Endowment Effect: Rose‐Tinted and Dark‐Tinted Glasses

Nayakankuppam, Dhananjay; Mishra, Himanshu

doi:10.1086/497550

Cited by 108 publications

(114 citation statements)

References 15 publications

Supporting

Mentioning

108

Contrasting

Order By: Relevance

“…Findings from this research, based on the notion of implicit threat and automatic defense response, offer a plausible mechanism for loss aversion: the endowment effect may be a manifestation of self-enhancement due to selfthreat from a forthcoming loss of a self-associated object. From this perspective, findings from recent research on the endowment effect related to differential foci (Carmon and Ariely 2000;Johnson et al 2007;Nayakankuppam and Mishra 2005) can be explained as a consequence of selfenhancement due to perceived threat. For instance, in order to self-enhance, sellers may be more likely to focus on positive (vs. negative) aspects of the self-associated object (Nayakankuppam and Mishra 2005).…”

Section: Discussionmentioning

confidence: 99%

“…From this perspective, findings from recent research on the endowment effect related to differential foci (Carmon and Ariely 2000;Johnson et al 2007;Nayakankuppam and Mishra 2005) can be explained as a consequence of selfenhancement due to perceived threat. For instance, in order to self-enhance, sellers may be more likely to focus on positive (vs. negative) aspects of the self-associated object (Nayakankuppam and Mishra 2005). Although this research furthers our understanding of the underlying process of the endowment effect, some questions remain for future research to answer.…”

Section: Discussionmentioning

confidence: 99%

“…Second, loss or gain depends on the reference point of the person; trade of an object is considered as loss by sellers whose reference point is having the possession of the object, while it is considered as gain by buyers whose reference point is not owning the object. Prior research supports the loss aversion account by showing that both sellers and buyers focus on the aspects of the object and/or the trade that they forgo in the exchange (Carmon and Ariely 2000;Johnson et al 2007;Nayakankuppam and Mishra 2005).…”

Section: The Underlying Process Of the Endowment Effectmentioning

confidence: 97%

See 2 more Smart Citations

The Endowment Effect as Self-Enhancement in Response to Threat

Chatterjee

Irmak²,

Rose

2013

J Consum Res

View full text Add to dashboard Cite

Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

Section: The Underlying Process Of the Endowment Effectmentioning

confidence: 97%

See 1 more Smart Citation

The Endowment Effect as Self-Enhancement in Response to Threat

Chatterjee

Irmak²,

Rose

2013

J Consum Res

View full text Add to dashboard Cite

“…However, just like in Case Study 1, neuroimaging can help us advance questions about explanation, i.e., about Marr-level 2 psychological mechanism(s) underlying G E . There are various competing explanations of the mechanisms underlying G E Ariely et al 2005;Nayakankuppam and Mishra 2005;Rick 2011). Here we only consider two amongst the most influential, mainly because these are the ones that have been submitted to fMRI investigation .…”

Section: Competing Psychological Explanations Of G Ementioning

confidence: 99%

“…This is also a reference-dependent theory, but one which posits a different mechanism to determine the subjective value of goods: ownership causes subjects to focus more on the positive features and less on the negative features of goods, relative to buyers (Nayakankuppam and Mishra 2005).…”

mentioning

confidence: 99%

There and up again: On the uses and misuses of neuroimaging in psychology

Pinal

Nathan

2013

Cognitive Neuropsychology

View full text Add to dashboard Cite

The aim of this article is to discuss the conditions under which functional neuroimaging can contribute to the study of higher-cognition. We begin by presenting two case studies-on moral and economic decision-making-which will help us identify and examine one of the main ways in which neuroimaging can help advance the study of higher cognition. We agree with critics that fMRI studies seldom 'refine' or 'confirm' particular psychological hypotheses, or even provide details of the neural implementation of cognitive functions. However, we suggest that neuroimaging can support psychology in a different way, namely, by selecting among competing hypotheses of the cognitive mechanisms underlying some mental function. One of the main ways in which neurimaging can be used for hypothesis selection is via reverse inferences, which we here examine in detail. Despite frequent claims to the contrary, we argue that successful reverse inferences do not assume any strong or objectionable form of reductionism or functional locationism. Moreover, our discussion illustrates that reverse inferences can be successful at early stages of psychological theorizing, when models of the cognitive mechanisms are only partially developed.

show abstract

Neural Mechanisms of Decision Making in Hoarding Disorder

Tolin¹,

Stevens²,

Villavicencio³

et al. 2012

Arch Gen Psychiatry

149

View full text Add to dashboard Cite

Context Hoarding disorder (HD), previously considered a subtype of obsessive-compulsive disorder (OCD), has been proposed as a unique diagnostic entity in DSM-5. Current models of HD emphasize problems of decision-making, attachment to possessions, and poor insight, whereas previous neuroimaging studies have suggested abnormalities in frontal brain regions. Objective To examine the neural mechanisms of impaired decision making in HD in patients with well-defined primary HD compared with patients with OCD and healthy control subjects (HCs). Design We compared neural activity among patients with HD, patients with OCD, and HCs during decisions to keep or discard personal possessions and control possessions from November 9, 2006, to August 13, 2010. Setting Private, not-for-profit hospital. Participants A total of 107 adults (43 with HD, 31 with OCD, and 33 HCs). Main Outcome Measures Neural activity as measured by functional magnetic resonance imaging in which actual real-time and binding decisions had to be made about whether to keep or discard possessions. Results Compared with participants with OCD and HC, participants with HD exhibited abnormal activity in the anterior cingulate cortex and insula that was stimulus dependent. Specifically, when deciding about items that did not belong to them, patients with HD showed relatively lower activity in these brain regions. However, when deciding about items that belonged to them, these regions showed excessive functional magnetic resonance imaging signals compared with the other 2 groups. These differences in neural function correlated significantly with hoarding severity and self-ratings of indecisiveness and “not just right” feelings among patients with HD and were unattributable to OCD or depressive symptoms. Conclusions Findings suggest a biphasic abnormality in anterior cingulate cortex and insula function in patients with HD related to problems in identifying the emotional significance of a stimulus, generating appropriate emotional response, or regulating affective state during decision making.

show abstract

The Endowment Effect: Rose‐Tinted and Dark‐Tinted Glasses

Cited by 108 publications

References 15 publications

The Endowment Effect as Self-Enhancement in Response to Threat

The Endowment Effect as Self-Enhancement in Response to Threat

There and up again: On the uses and misuses of neuroimaging in psychology

Neural Mechanisms of Decision Making in Hoarding Disorder

Contact Info

Product

Resources

About