Endowment Effect: Trading for Oneself Versus Trading for Others

Wang, Sui-Min; Cheng, Yin-Hui; Lee, Chao-Feng; Chuang, Shih-Chieh

doi:10.1177/0033294118802555

Cited by 5 publications

(3 citation statements)

References 54 publications

(76 reference statements)

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“…Past research suggests tourists may avoid visitation merely to refrain from financial support of a destination (Webster and Timothy, 2006). This finding is corroborated by more recent research suggesting a relationship between emotion and willing to pay (WTP) a premium (Wang et al, 2019). Consumers are WTP a price premium merely to avoid the purchase of products originating in a country toward which they harbor animosity (Cui et al, 2012).…”

Section: Conceptual Model and Research Hypothesesmentioning

confidence: 89%

Perceptions of a heritage site and animosity: the case of the West Bank

Abraham

Poria

2020

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Purpose Drawing on the theories of social identity and realistic conflict theory, the purpose of this study is to enrich the literature by proposing and testing a model conceptualizing the relationships between animosity, an antecedent (tourists’ perception of a heritage site) and demand variables (e.g. length of stay). Design/methodology/approach Data collected for the study is based on a combination of qualitative (20 interviews) and quantitative research (n = 330) methods. Findings The study demonstrates that animosity should be integrated into tourism research. The study provides relevant insights indicating that animosity harbored toward locals is crucial to the understanding of tourists’ behavior. Research limitations/implications The study provides relevant insights indicating that animosity harbored toward locals is crucial to the understanding of tourists’ behavior. Practical implications Managerial implications for those entrusted with the promotion of tourism and site management are suggested in areas at the heart of a conflict. Originality/value The study of animosity challenges the common view in heritage tourism which focus on positive emotions harbored by tourists. In the present study, the authors focus on the consequences of negative emotions.

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Section: Conceptual Model and Research Hypothesesmentioning

confidence: 89%

Perceptions of a heritage site and animosity: the case of the West Bank

Abraham

Poria

2020

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“…We do not know why an individual might prioritize one close other over another. Recent research suggests that value-based psychological systems are involved in tracking important social information (e.g., social status) and close-other status strongly modulates the subjective value of rewards (Feng, Zhao, & Donnay, 2013;Hackel, Doll, & Amodio, 2015;Morelli, Chang, Carlson, Kullar, & Zaki, 2018;Parkinson, Kleinbaum, & Wheatley, 2017;Wang, Cheng, Lee, & Chuang, 2019;Zerubavel, Bearman, Weber, & Ochsner, 2015;Zhao, Feng, & Kazinka, 2014) Coupled with the fact that prior studies on social decision-making with close others have found evidence of consistent preferences with monetary outcomes (Guassi Moreira et al, 2019), it is likely that a value-based psychological architecture may be driving these preferences while also leaving open the possibility that non-value-based architectures may drive preferences involving other outcomes (e.g., social motivations).…”

Section: Close Othersmentioning

confidence: 99%

Computational and motivational mechanisms of human social decision making involving close others

Moreira

Tashjian

Galván

et al. 2021

Journal of Experimental Social Psychology

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Every day, human beings make decisions with social consequences. These social consequences matter most when they impact those closest to us. Recent research has shown that humans exhibit reliable preferences when deciding between conflicting outcomes involving close others-for example, prioritizing the interests of one's family member over one's friend. However, virtually nothing is known about the mechanisms that drive these preferences. We conducted a pre-registered study in a large (maximum N =375) sample to quantify the computational and motivational mechanisms of human social decision-making preferences involving close others. By pairing assessment techniques from behavioral economics and psychological science with computational modeling and random coefficient regression, we show that valuebased cognitive computations (e.g., risk and loss aversion) drive social decisionmaking preferences involving financial outcomes, whereas socioemotional motivations (e.g., relationship quality) underlie preferences involving social outcomes. These results imply mechanistic heterogeneity, underscoring a need for greater attention to contextual specificity in social decision-making.

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“…Secondly, studies on non-literal languages claim that metaphorical context primes the expression’s metaphorical meaning, and literal context promotes the item’s literal meaning (e.g. Katz and Ferretti 2001 ; Wang et al 2018 ). But the GSH argues that if a meaning is salient enough, its activation is hardly influenced by the context.…”

Section: Introductionmentioning

confidence: 99%

The Roles of Familiarity and Context in Processing Chinese Xiehouyu: An ERP Study

Wang

Tian³

et al. 2021

J Psycholinguist Res

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This study conducts an ERP experiment to explore the online processing mechanism of Chinese xiehouyu, a subcategory of Chinese idiomatic expressions with a metaphorical two-part allegorical saying, regarded as a non-literal language construct. Using a 2 × 2 design, (high familiarity (HF)/low familiarity (LF)) × (literally-biasing context (LC)/metaphorically-biasing context (MC)), the researchers have obtained the following findings: (1) familiarity plays an important role in Chinese xiehouyu processing, i.e. the metaphorical meaning of a HF Chinese xiehouyu can be directly activated while that of a LF one has to be derived from its literal meaning first; (2) contextual information also weighs in the process, i.e. the metaphorical meaning of a Chinese xiehouyu can be promoted in MC condition but suppressed in LC condition; (3) the interactive effect of familiarity and contextual information can be explained by the career of metaphor hypothesis; and (4) the Standard Pragmatic Model (SPM) of non-literal languages can explain the processing of LF xiehouyu, and the Direct Access Model (DAM) may to some extent account for the mechanism of HF one but fails to explain the case of LF one, while the Graded Salience Hypothesis (GSH) can provide an acceptable explanation for the processing mechanism of Chinese xiehouyus of varied familiarity.

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Endowment Effect: Trading for Oneself Versus Trading for Others

Cited by 5 publications

References 54 publications

Perceptions of a heritage site and animosity: the case of the West Bank

Perceptions of a heritage site and animosity: the case of the West Bank

Computational and motivational mechanisms of human social decision making involving close others

The Roles of Familiarity and Context in Processing Chinese Xiehouyu: An ERP Study

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