ICORIA 2008 edition:7 location:Antwerp date:27-28 June 2008
A discrepancy exists between people’s willingness to pay for an object and the least price they are willing to accept to sell this object if they own it. We propose materialism as a moderator of this ‘endowment effect’. In two experiments evidence is found for a differential influence of materialistic values on buying and selling prices. Materialistic sellers demand higher prices for endowments than less materialistic sellers. Materialistic values, however, do not predict buying prices. In addition, exposure to materialistic ads–likely to temporarily induce or reinforce materialism–may increase the WTP-WTA gap over and above chronic materialistic values.