Endowment Effect for Sports Cards
Trading sports cards: Does ownership increase the value of goods to consumers?
data("SportsCards")A data frame containing 148 observations on 9 variables.
factor. Was the individual given good A or B (see below)?
factor. Was the individual a dealer?
number of trades per month reported by the individual.
number of years that the individual has been trading.
factor indicating income group (in 1000 USD).
factor indicating gender.
factor indicating highest level of education (8th grade or less, high school, 2-year college, other post-high school, 4-year college or graduate school).
age in years.
factor. Did the individual trade the good he was given for the other good?
SportsCards contains data from 148 randomly selected traders who attended
a trading card show in Orlando, Florida, in 1998. Traders were randomly given one
of two sports collectables, say good A or good B, that had approximately equal market
value. Those receiving good A were then given the option of trading good A for good B
with the experimenter; those receiving good B were given the option of trading good B
for good A with the experimenter. Good A was a ticket stub from the game that Cal Ripken Jr.
set the record for consecutive games played, and Good B was a souvenir
from the game that Nolan Ryan won his 300th game.
Online complements to Stock and Watson (2007).
List, J.A. (2003). Does Market Experience Eliminate Market Anomalies? Quarterly Journal of Economcis, 118, 41–71.
Stock, J.H. and Watson, M.W. (2007). Introduction to Econometrics, 2nd ed. Boston: Addison Wesley.
data("SportsCards")
summary(SportsCards)
plot(trade ~ permonth, data = SportsCards, breaks = c(0, 5, 10, 20, 30, 70))
plot(trade ~ years, data = SportsCards, breaks = c(0, 5, 10, 20, 60))Please choose more modern alternatives, such as Google Chrome or Mozilla Firefox.