2014
DOI: 10.1257/aer.104.6.1793
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Evolutionary Origins of the Endowment Effect: Evidence from Hunter-Gatherers

Abstract: The endowment effect, the tendency to value possessions more than non-possessions, is a well-known departure from rational choice and has been replicated in numerous settings. We investigate the universality of the endowment effect, its evolutionary significance, and its dependence on environmental factors. We experimentally test for the endowment effect in an isolated and evolutionarily relevant population of hunter-gatherers, the Hadza Bushmen of Northern Tanzania. We find that Hadza living in isolated regio… Show more

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Cited by 108 publications
(57 citation statements)
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References 29 publications
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“…Still, Hadza men are, on average, more competitive and more risk-taking than women, as evinced from performance in incentivized economic games (Apicella & Dreber, 2015;Apicella, Crittenden, & Tobolsky, 2017). Other sex differences in economic (e.g., preference for owned items) and social preferences (e.g., cooperation) have not been found (Apicella, 2017;Apicella, Azevedo, Christakis, & Fowler, 2014;Apicella, Marlowe, Fowler, & Christakis, 2012).…”
Section: Study Populationmentioning
confidence: 92%
“…Still, Hadza men are, on average, more competitive and more risk-taking than women, as evinced from performance in incentivized economic games (Apicella & Dreber, 2015;Apicella, Crittenden, & Tobolsky, 2017). Other sex differences in economic (e.g., preference for owned items) and social preferences (e.g., cooperation) have not been found (Apicella, 2017;Apicella, Azevedo, Christakis, & Fowler, 2014;Apicella, Marlowe, Fowler, & Christakis, 2012).…”
Section: Study Populationmentioning
confidence: 92%
“…Examples of cultural impact on possession are cross‐cultural differences in the development of the “first possession heuristic”. For example, there is no evidence of any development of the endowment effect over individually owned objects in the case of the Hadza (see glossary) . We suggest that property behavior may exist in societies like the Hadza, but that cultural factors have transferred individual behavior to the group level, over group‐owned property.…”
Section: Developmental Psychologymentioning
confidence: 74%
“…Thus experimental research shows that in markets and market‐like competitive environments, people's behavior does more closely resemble the assumptions of traditional rational action theory, but this is less true in other kinds of institutional/cultural environments (Apicella et al. ; Fehr and Gintis ). Whatever cognitive and affective tendencies that we share apparently produce different responses in different settings, and isolating a useful lowest common denominator model of the actor is at this stage likely impossible.…”
Section: Implications Of the Two Examples Considered Jointlymentioning
confidence: 97%