Prior research on the endowment effect has tended to focus on decisions made by individuals acting on their own account rather than on others’ behalf. This article reports on three experiments that modeled this “for-self” versus “for-others” distinction and measured its effects on prices. Specifically, our participants who were asked to make trading decisions for other people subsequently reported decreases in the endowment effect. We concluded that, in the context of the trading of goods, perceived ownership and differences in focus on the traded products’ positive and negative features mediated the diminished endowment effect our experiments identified.
In this paper, we propose a T-S fuzzy model based controller for the H-type gantry stage. The synchronized error, which is caused by mismatch quality and friction, is an important control problem for the H-type gantry stage. Utilizing a Lagrangian equation, all states can be formulated as a state equation. Furthermore, the T-S fuzzy model based controller is designed to reduce velocity error, and the position error can also be obtained through internal transformation. Moreover, by utilizing additional transformations, the stabilization problem can be transformed into a linear matrix inequalities (LMIs) problem. Finally, numerical simulation and experimental results are illustrated to demonstrate that the control scheme can effectively reduce synchronized error and tracking error of a gantry stage.
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