Experimental tests of the endowment effect (2000)
Franciosi, Robert, Kujal, Praveen [kujal], Michelitsch, Roland, Smith, Vernon, Deng, Gang
Monopoly power and terms of trade (1998)
Michelitsch, Roland, Kujal, Praveen [kujal]
The Prebisch-Singer (PS) theory predicts that tenns of trade, given low income elasticity of demand for primary products and market power of industrialized countries, for producers of primary...
Experimental tests of the endowment effect (1996)
Franciosi, Robert, Kujal, Praveen [kujal], Michelitsch, Roland, Smith, Vernon, Deng, Gang
The endowment effect, which predicts undertrading and a willingness-to-accept greater than willingness-to-pay, is studied using responses that remove all reference to buying or selling and focuses...
Fairness: Effect on Temporary and Equilibrium Prices in Posted Offer Markets (1995)
Franciosi, Robert, Kujal, Praveen [kujal], Michelitsch, Roland, Smith, Vermon, Deng, Gang
Questionnaire studies suggest that perceptions of fairness cause people to resist price increases following abrupt changes in conditions with no cost justification. This hypothesis is examined in...
Experimental tests of the endowment effect (1994)
Franciosi, Robert, Kujal, Praveen, Michelitsch, Roland, Smith, Vernon L.
The discrepancy between WTA and WTP is supposed to be a manifestation of the endowment effect (KKT). The discrepancy between the average WTA-WTP disappears in the sense of statistical significance...
Vittas, Dimitri, Michelitsch, Roland
Social pension systems in most countries in Eastern Europe and the former Soviet Union face severe financial pressure. Aging populations are increasing that pressure, which stems mainly from in...