作者：Gonzalez, FM
作者单位：University of British Columbia
摘要：We consider the incentive to adopt superior technologies when private property is insecure. The welfare costs of insecure property can be substantially greater than those commonly associated with diversion and with the disincentive effect induced by imperfect appropriation of returns. When private property is sufficiently insecure, anticipation of conflict over economic distribution gives rise to technological backwardness, even though (1) superior technologies are readily available at zero co...
作者：Huck, S; Kirchsteiger, G; Oechssler, J
作者单位：Universite Libre de Bruxelles; Ruprecht Karls University Heidelberg
摘要：The endowment effect describes the fact that people demand much more to give up an object than they are willing to spend to acquire it. The existence of this effect has been documented in numerous experiments. We attempt to explain this effect by showing that evolution favors individuals whose preferences embody an endowment effect. The reason is that an endowment effect improves one's bargaining position in bilateral trades. We show that for a general class of evolutionary processes strictly ...
