Evolutionary Origins of the Endowment Effect: Evidence from Hunter-Gatherers

• 成果类型: Article
• 署名作者: Apicella, Coren L.; Azevedo, Eduardo M.; Christakis, Nicholas A.; Fowler, James H.
• 署名单位: University of Pennsylvania; University of Pennsylvania; Yale University; Yale University; Yale University; University of California System; University of California San Diego; University of California System; University of California San Diego
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/aer.104.6.1793
• 发表日期: 2014
• 页码: 1793-1805
• 关键词: reference-dependent preferences; societies; BEHAVIOR; chimpanzees; exchange; biases; homo

摘要

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 regions do not display the endowment effect, while Hadza living in a geographic region with increased exposure to modern society and markets do display the endowment effect.