@article{b7ec65c2908442198bb1858e50e05d7c,
title = "THE ENDOWMENT EFFECT AS BLESSING",
abstract = "We study the idea that seemingly unrelated behavioral biases can coevolve if they jointly compensate for the errors that any one of them would give rise to in isolation. We suggest that the “endowment effect” and the “winner's curse” could have jointly survived natural selection together. We develop a new family of “hybrid-replicator” dynamics. Under such dynamics, biases survive in the population for a long period of time even if they only partially compensate for each other and despite the fact that the rational type's payoff is strictly larger than the payoffs of all other types.",
author = "Sivan Frenkel and Yuval Heller and Roee Teper",
note = "Publisher Copyright: {\textcopyright} (2018) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association",
year = "2018",
month = aug,
doi = "10.1111/iere.12300",
language = "אנגלית",
volume = "59",
pages = "1159--1186",
journal = "International Economic Review",
issn = "0020-6598",
publisher = "Wiley-Blackwell Publishing Ltd",
number = "3",
}