Egocentric empathy gaps between owners and buyers: Misperceptions of the endowment effect

Journal of Personality and Social Psychology

Volumn 79, Issue 1, 2000, Pages 66-76

  Van Boven, Leaf ^a   Dunning, David ^b   Loewenstein, George ^b  

^a UNIVERSITY OF BRITISH COLUMBIA   (Canada)

^b NONE

Author keywords

[No Author keywords available]

Indexed keywords

ADULT; ARTICLE; ATTITUDE; COMPARATIVE STUDY; DECISION MAKING; EMPATHY; FEMALE; HUMAN; MALE; PERCEPTION; SELF CONCEPT; UNITED STATES;

ADULT; ATTITUDE; CHOICE BEHAVIOR; EMPATHY; FEMALE; HUMANS; MALE; SELF CONCEPT; SOCIAL PERCEPTION; UNITED STATES;

EID: 0034218957     PISSN: 00223514     EISSN: None     Source Type: Journal    
DOI: 10.1037/0022-3514.79.1.66     Document Type: Article

References (57)

1. Asch, S. (1952). Social psychology. New York: Prentice-Hall.
2. Baron, R. M., & Kenny, D. A. (1986). The moderator-mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of Personality and Social Psychology, 51, 1173-1182.
3. Beggan, J. K. (1992). On the social nature of nonsocial perception: The mere ownership effect. Journal of Personality and Social Psychology, 62, 229-237.
4. Blount, S. (1995). When social outcomes aren't fair: The effect of causal attributions on preferences. Organizational Behavior and Human Decision Processes, 63, 131-44.
5. Camerer, C., Loewenstein, G., & Weber, M. (1989). The curse of knowledge in economic settings: An experimental analysis. Journal of Political Economy, 97, 1232-1253.
6. Carnegie, D. (1936). How to win friends and influence people. New York: Pocket Books.
7. Cannon, Z., & Ariely, D. (in press). Focusing on the forgone: How value can appear so different to owners and buyers. Journal of Consumer Research.
8. Einhorn, H. J. (1982). Learning from experience and suboptimal rules in decision making. In D. Kahneman, P. Slovic, & A. Tversky (Eds.), Judgment under uncertainty: Heuristics and biases (pp. 268-286). Cambridge, MA: University of Cambridge Press.
9. Fischhoff, B. (1975). Hindsight is not equal to foresight: The effect of outcome knowledge on judgment under uncertainty. Journal of Experimental Psychology: Human Perception and Performance, 1, 288-299.
10. Fischhoff, B., & Beyth, R. (1975). I knew it would happen: Remembered probabilities of once-future things. Organizational Behavior and Human Performance, 13, 1-16.
11. Gibbons, R., & Van Boven, L. (in press). Contingent social utility in the Prisoners' Dilemma. Journal of Economic Behavior and Organization.
12. Gilbert, D. T., Gill, M. J., & Wilson, T. D. (1998). How do we know what we will like? The informational basis of affective forecasting. Unpublished manuscript, Harvard University.
13. Gilbert, D. T., & Malone, P. S. (1995). The correspondence bias. Psychological Bulletin, 117, 21-38.
14. Gilovich, T., Medvec, V. H., & Savitsky, K. (2000). The spotlight effect in social judgment: An egocentric bias in estimates of the salience of one's own actions and appearance. Journal of Personality and Social Psychology, 78, 211-222.
15. Gilovich, T., Savitsky, K., & Medvec, V. H. (1998). The illusion of transparency: Biased assessments of others' ability to read one's emotional states. Journal of Personality and Social Psychology, 75, 332-346.
16. Griffin, D. W., & Ross, L. (1991). Subjective construal, social inference, and human misunderstanding. In M. P. Zanna (Ed.), Advances in experimental social psychology (Vol. 24, pp. 319-359). San Diego, CA: Academic Press.
17. Higgins, E. T. (1980). Role taking and social judgment: Alternative developmental perspectives and processes. In J. H. Flavell & L. Ross (Eds.), Social cognitive development: Frontiers and possible futures (pp. 119-153). New York: Cambridge University Press.
18. Ichheiser, G. (1949). Misunderstandings in human relations: A study in false social perception. American Journal of Sociology, 55, 1-67.
19. Ickes, W. J. (Ed.). (1997). Empathic accuracy. New York: Guilford Press.
20. Jacowitz, K. E., & Kahneman, D. (1995). Measures of anchoring in estimation tasks. Personality and Social Psychology Bulletin, 21, 1161-1166.
21. Jones, E. E. (1990). Interpersonal perception. New York: Macmillan.
22. Kahneman, D., Knetch, J., & Thaler, R. (1990). Experimental tests of the endowment effect and the coase theorem. Journal of Political Economy, 98, 1325-1348.
23. Kahneman, D., Knetch, J., & Thaler, R. (1991). Anomalies: The endowment effect, loss aversion, and status quo bias. Journal of Economic Perspectives, 5, 193-206.
24. Kahneman, D., & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47, 263-292.
25. Kenny, D. A., Kashy, D. H., & Bolger, N. (1998). Data analysis in social psychology. In D. T. Gilbert, S. T. Fiske, & G. Lindzey (Eds.), The handbook of social psychology (Vol. 2, 4th ed., pp. 223-266). Boston: McGraw-Hill.
26. Keysar, B. (1994). Intuitions about the transparency of intention: Linguistic perspective taking in text. Cognitive Psychology, 26, 165-208.
27. Keysar, B., & Bly, B. (1995). Intuitions of the transparency of idioms: Can one keep a secret by spilling the beans? Journal of Memory and Language, 34, 89-109.
28. Keysar, B., Ginzel, L. E., & Bazerman, M. H. (1995). States of affairs and states of mind: The effect of knowledge on beliefs. Organizational Behavior and Human Decision Processes, 64, 283-293.
29. Knetch, J. L. (1989). The endowment effect and evidence of nonreversible indifference curves. American Economic Review, 79, 1277-1284.
30. Knetch, J. L., & Sinden, J. A. (1984). Willingness to pay and compensation demanded: Experimental evidence of an unexpected disparity in measures of value. Quarterly Journal of Economics, 99, 507-521.
31. Loewenstein, G. (1996). Out of control: Visceral influences on behavior. Organizational Behavior and Human Decision Processes, 65, 272-292.
32. Loewenstein, G., & Adler, D. (1995). A bias in the prediction of tastes. Economic Journal, 105, 929-937.
33. Loewenstein, G., O'Donoghue, T., & Rabin, M. (2000). Projection bias in predicting future utility. Unpublished manuscript, Carnegie Mellon University.
34. Loewenstein, G., Thompson, L., & Bazerman, M. (1989). Social utility and decision making in interpersonal contexts. Journal of Personality and Social Psychology, 57, 426-441.
35. Machina, M. (1982). "Expected utility" without the independence axiom. Econometrica, 50, 277-323.
36. Markowtiz, H. (1952). The utility of wealth. Journal of Political Economy, 60, 151-158.
37. Neale, M. A., & Bazerman, M. H. (1983). The role of perspective-taking ability in negotiating under different forms of arbitration. Industrial and Labor Relations Review, 36, 378-388.
38. Piaget, J. (1926). The language and thought of the child. New York: Harcourt Brace.
39. Piaget, J. (1928). Judgment and reasoning in the child. New York: Harcourt Brace.
40. Rabin, M. (1993). Incorporating fairness into game theory and economics. American Economic Review, 83, 1408-1418.
41. Raiffa, H. (1982). The art and science of negotiations. Cambridge, MA: Belknap.
42. Read, D., & van Leeuwen, B. (1998). Time and desire: The effects of anticipated and experienced hunger and delay to consumption on the choice between healthy and unhealthy snack food. Organizational Behavior and Human Decision Processes, 76, 189-205.
43. Ross, L. (1977). The intuitive psychologist and his shortcomings: Distortions in the attribution process. In L. Berkowitz (Ed.), Advances in experimental social psychology (Vol. 10, pp. 173-220). New York: Academic Press.
44. Ross, L., Amabile, T. M., & Steinmetz, J. L. (1977). Social roles, social control, and biases in social-perception processes. Journal of Personality and Social Psychology, 35, 485-494.
45. Ross, L., Greene, D., & House, P. (1977). The false consensus effect: An egocentric bias in social perception and attribution processes. Journal of Experimental Social Psychology, 13, 279-301.
46. Ross, L., & Ward, A. (1995). Psychological barriers to dispute resolution. In M. P. Zanna (Ed.), Advances in experimental social psychology (Vol. 27, pp. 255-304). San Diego, CA: Academic Press.
47. Smith, A. (1937). The wealth of nations. New York: The Modern Library. (Original work published 1776)
48. Sobel, M. E. (1982). Asymptotic confidence intervals for indirect effects in structural models. In S. Leinhardt (Ed.), Sociological methodology 1982 (pp. 290-312). San Francisco: Jossey-Bass.
49. Thaler, R. (1980). Toward a positive theory of consumer choice. Journal of Economic Behavior and Organization, 1, 39-60.
50. Thompson, L., & Hastie, R. (1990). Social perception in negotiation. Organizational Behavior and Human Decision Processes, 47, 98-123.
51. Tversky, A., & Kahneman, D. (1974, September 27). Judgment under uncertainty: Heuristics and biases. Science, 185, 1124-1131.
52. Tversky, A., & Kahneman, D. (1991). Loss aversion in riskless choice: A reference-dependent model. Quarterly Journal of Economics, 106, 1039-1061.
53. Tversky, A., & Kahneman, D. (1992). Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5, 297-323.
54. Van Boven, L., Loewenstein, G., & Dunning, D. (2000a). An egocentric bias in the prediction of others' tastes. Unpublished manuscript, University of British Columbia.
55. Van Boven, L., Loewenstein, G., & Dunning, D. (2000b). Egocentric empathy gaps. Unpublished manuscript, University of British Columbia.
56. Van Boven, L., Medvec, V. H., & Gilovich, T. (2000). The illusion of transparency in negotiations. Unpublished manuscript, University of British Columbia.
57. Vorauer, J. D., & Claude, S. (1998). Perceived versus actual transparency of goals in negotiation. Personality and Social Psychology Bulletin, 24, 371-385.