The endowment effect accompanying villagers' withdrawal from rural homesteads: Field evidence from Chengdu, China
Author
Suggested Citation
DOI: 10.1016/j.landusepol.2020.105107
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Jack L. Knetsch & J. A. Sinden, 1984. "Willingness to Pay and Compensation Demanded: Experimental Evidence of an Unexpected Disparity in Measures of Value," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(3), pages 507-521.
- Tunçel, Tuba & Hammitt, James K., 2014. "A new meta-analysis on the WTP/WTA disparity," Journal of Environmental Economics and Management, Elsevier, vol. 68(1), pages 175-187.
- Jing Li & Meng Guo & Kevin Lo, 2019. "Estimating Housing Vacancy Rates in Rural China Using Power Consumption Data," Sustainability, MDPI, vol. 11(20), pages 1-13, October.
- Wei Shui & Jianping Bai & Su Zhang & Yiping Chen, 2014. "Analysis of the Influencing Factors on Resettled Farmer’s Satisfaction under the Policy of the Balance between Urban Construction Land Increasing and Rural Construction Land Decreasing: A Case Study o," Sustainability, MDPI, vol. 6(12), pages 1-14, November.
- Knetsch, Jack L, 1989. "The Endowment Effect and Evidence of Nonreversible Indifference Curves," American Economic Review, American Economic Association, vol. 79(5), pages 1277-1284, December.
- Xinhua Zhu, 2017. "Impact of the Household Registration System on Farmers’ Rural Housing Land Use Decisions in China," Land, MDPI, vol. 6(4), pages 1-12, October.
- Kong, Xuesong & Liu, Yaolin & Jiang, Ping & Tian, Yasi & Zou, Yafeng, 2018. "A novel framework for rural homestead land transfer under collective ownership in China," Land Use Policy, Elsevier, vol. 78(C), pages 138-146.
- Keith M. Marzilli Ericson & Andreas Fuster, 2014.
"The Endowment Effect,"
Annual Review of Economics, Annual Reviews, vol. 6(1), pages 555-579, August.
- Keith M. Marzilli Ericson & Andreas Fuster, 2013. "The Endowment Effect," NBER Working Papers 19384, National Bureau of Economic Research, Inc.
- Dhananjay Nayakankuppam & Himanshu Mishra, 2005. "The Endowment Effect: Rose-Tinted and Dark-Tinted Glasses," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 32(3), pages 390-395, December.
- Jens F. L. S�rensen, 2016. "Rural-Urban Differences in Bonding and Bridging Social Capital," Regional Studies, Taylor & Francis Journals, vol. 50(3), pages 391-410, March.
- Yan Tong & Haipeng Niu & Liangxin Fan, 2016. "Willingness of Farmers to Transform Vacant Rural Residential Land into Cultivated Land in a Major Grain-Producing Area of Central China," Sustainability, MDPI, vol. 8(11), pages 1-15, November.
- Xuesong Sun & Zaisheng Zhang & Yiye Zhang, 2018. "Factors Influencing Farmer’s Decision-Making Behavior on Rural Construction Land Transformation," Sustainability, MDPI, vol. 10(11), pages 1-17, November.
- Shan, Zhengying & Feng, Changchun, 2018. "The Redundancy of Residential Land in Rural China: The evolution process, current status and policy implications," Land Use Policy, Elsevier, vol. 74(C), pages 179-186.
- repec:cup:judgdm:v:2:y:2007:i::p:107-114 is not listed on IDEAS
- Daniel Kahneman & Amos Tversky, 2013.
"Prospect Theory: An Analysis of Decision Under Risk,"
World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127,
World Scientific Publishing Co. Pte. Ltd..
- Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
- Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
- Chuanhao Tian & Li Fang, 2018. "The Impossible in China’s Homestead Management: Free Access, Marketization and Settlement Containment," Sustainability, MDPI, vol. 10(3), pages 1-19, March.
- Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1325-1348, December.
- Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
- Yi Peng & Liyin Shen & Cong Tan & Dalu Tan & Hao Wang, 2013. "Critical determinant factors (CDFs) for developing concentrated rural settlement in post-disaster reconstruction: a China study," Natural Hazards: Journal of the International Society for the Prevention and Mitigation of Natural Hazards, Springer;International Society for the Prevention and Mitigation of Natural Hazards, vol. 66(2), pages 355-373, March.
- Fehr, Dietmar & Hakimov, Rustamdjan & Kübler, Dorothea, 2015.
"The willingness to pay–willingness to accept gap: A failed replication of Plott and Zeiler,"
European Economic Review, Elsevier, vol. 78(C), pages 120-128.
- Fehr, Dietmar & Hakimov, Rustamdjan & Kübler, Dorothea, 2015. "The willingness to pay-willingness to accept gap: A failed replication of Plott and Zeiler," Discussion Papers, Research Unit: Market Behavior SP II 2015-204, WZB Berlin Social Science Center.
- Mandel, David R., 2002. "Beyond mere ownership: transaction demand as a moderator of the endowment effect," Organizational Behavior and Human Decision Processes, Elsevier, vol. 88(2), pages 737-747, July.
- Khalil, Elias L. & Wu, Kevin, 2017. "Explicit vs implicit proprietorship: Can endowment effect theory explain exchange asymmetry?," Economics Letters, Elsevier, vol. 154(C), pages 117-119.
- Yu, Zhenning & Wu, Cifang & Tan, Yongzhong & Zhang, Xiaobin, 2018. "The dilemma of land expansion and governance in rural China: A comparative study based on three townships in Zhejiang Province," Land Use Policy, Elsevier, vol. 71(C), pages 602-611.
- MacDonald, H.F. & Bowker, J.M., 1994. "The Endowment Effect and WTA: A Quasi-Experimental Test," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 26(2), pages 545-551, December.
- Chan, Eugene Y., 2015. "Endowment effect for hedonic but not utilitarian goods," International Journal of Research in Marketing, Elsevier, vol. 32(4), pages 439-441.
- Ivo Bischoff, 2008.
"Endowment effect theory, prediction bias and publicly provided goods: an experimental study,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 39(3), pages 283-296, March.
- Bischoff, Ivo, 2006. "Endowment effect theory, prediction bias and publicly provided goods – an experimental study," Finanzwissenschaftliche Arbeitspapiere 75, Justus Liebig University Giessen, Fachbereich Wirtschaftswissenschaften.
- P. Dupraz & D. Vermersch & B. De Frahan & L. Delvaux, 2003.
"The Environmental Supply of Farm Households: A Flexible Willingness to Accept Model,"
Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 25(2), pages 171-189, June.
- Pierre Dupraz & Dominique Vermersch & Bruno Henry de Fraham & Lionel Delvaux, 2003. "The environmental supply of farm households : a flexible willingness to accept model," Post-Print hal-01931665, HAL.
- Hanemann, W Michael, 1991.
"Willingness to Pay and Willingness to Accept: How Much Can They Differ?,"
American Economic Review, American Economic Association, vol. 81(3), pages 635-647, June.
- Hanemann, W., 1989. "Willingness to Pay and Willingness to Accept: How Much Can They Differ?," CUDARE Working Papers 198276, University of California, Berkeley, Department of Agricultural and Resource Economics.
- Thaler, Richard, 1980. "Toward a positive theory of consumer choice," Journal of Economic Behavior & Organization, Elsevier, vol. 1(1), pages 39-60, March.
- Shogren, Jason F. & Seung Y. Shin & Dermot J. Hayes & James B. Kliebenstein, 1994.
"Resolving Differences in Willingness to Pay and Willingness to Accept,"
American Economic Review, American Economic Association, vol. 84(1), pages 255-270, March.
- Shogren, Jason F. & Shin, Seung Youll & Hayes, Dermot J. & Kliebenstein, James, 1994. "Resolving Differences in Willingness to Pay and Willingness to Accept," Staff General Research Papers Archive 701, Iowa State University, Department of Economics.
- Shogren, Jason F. & Shin, Seung Y. & Hayes, Dermot J. & Kliebenstein, James B., 1994. "Resolving Differences in Willingness to Pay and Willingness to Accept," ISU General Staff Papers 199403010800001005, Iowa State University, Department of Economics.
- Mario Schijven & Michael A. Hitt, 2012. "The vicarious wisdom of crowds: toward a behavioral perspective on investor reactions to acquisition announcements," Strategic Management Journal, Wiley Blackwell, vol. 33(11), pages 1247-1268, November.
- Hao Li & Xiaohui Yang & Xiao Zhang & Yuyan Liu & Kebin Zhang, 2018. "Estimation of Rural Households’ Willingness to Accept Two PES Programs and Their Service Valuation in the Miyun Reservoir Catchment, China," Sustainability, MDPI, vol. 10(1), pages 1-19, January.
- Jesse Rodenbiker, 2020. "Urban Ecological Enclosures: Conservation Planning, Peri‐urban Displacement, and Local State Formations in China," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 44(4), pages 691-710, July.
- Wu, Yuzhe & Mo, Zhibin & Peng, Yi & Skitmore, Martin, 2018. "Market-driven land nationalization in China: A new system for the capitalization of rural homesteads," Land Use Policy, Elsevier, vol. 70(C), pages 559-569.
- Inesi, M. Ena, 2010. "Power and loss aversion," Organizational Behavior and Human Decision Processes, Elsevier, vol. 112(1), pages 58-69, May.
- Horowitz, John K. & McConnell, Kenneth E., 2002. "A Review of WTA/WTP Studies," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 426-447, November.
- Sara Loughran Dommer & Vanitha Swaminathan, 2013. "Explaining the Endowment Effect through Ownership: The Role of Identity, Gender, and Self-Threat," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 39(5), pages 1034-1050.
- Charles R. Plott & Kathryn Zeiler, 2005. "The Willingness to Pay–Willingness to Accept Gap, the "Endowment Effect," Subject Misconceptions, and Experimental Procedures for Eliciting Valuations," American Economic Review, American Economic Association, vol. 95(3), pages 530-545, June.
- Cheng, Mingyang & Yansui Liu, & Zhou, Yang, 2019. "Measuring the symbiotic development of rural housing and industry: A case study of Fuping County in the Taihang Mountains in China," Land Use Policy, Elsevier, vol. 82(C), pages 307-316.
- Cho, Seong-Hoon & Newman, David H. & Bowker, J.M., 2005. "Measuring rural homeowners' willingness to pay for land conservation easements," Forest Policy and Economics, Elsevier, vol. 7(5), pages 757-770, August.
- Thomas, Veronica L. & Yeh, Marie & Jewell, Robert D., 2015. "Enhancing valuation: the impact of self-congruence with a brand on the endowment effect," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 58(C), pages 178-185.
- MacDonald, H.F. & Bowker, James Michael, 1994. "The Endowment Effect And Wta: A Quasi-Experimental Test," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 26(2), pages 1-7, December.
- Shih, Mi & Chiang, Ying-Hui & Chang, Hsiutzu Betty, 2019. "Where does floating TDR land? An analysis of location attributes in real estate development in Taiwan," Land Use Policy, Elsevier, vol. 82(C), pages 832-840.
- Nicolai j. Foss & Lars Frederiksen & Francesco Rullani, 2016. "Problem‐formulation and problem‐solving in self‐organized communities: How modes of communication shape project behaviors in the free open‐source software community," Strategic Management Journal, Wiley Blackwell, vol. 37(13), pages 2589-2610, December.
- Liqiu Zhao & Shouying Liu & Wei Zhang, 2018. "New Trends in Internal Migration in China: Profiles of the New†generation Migrants," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 26(1), pages 18-41, January.
- Chen, Hongxia & Zhao, Luming & Zhao, Zhenyu, 2017. "Influencing factors of farmers’ willingness to withdraw from rural homesteads: A survey in zhejiang, China," Land Use Policy, Elsevier, vol. 68(C), pages 524-530.
- Wen Fan & Lifang Zhang, 2019. "Does cognition matter? Applying the push‐pull‐mooring model to Chinese farmers' willingness to withdraw from rural homesteads," Papers in Regional Science, Wiley Blackwell, vol. 98(6), pages 2355-2369, December.
- Zhang, Xiaoling & Han, Lu, 2018. "Which Factors Affect Farmers’ Willingness for rural community remediation? A tale of three rural villages in China," Land Use Policy, Elsevier, vol. 74(C), pages 195-203.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Ying Chen & Xiaolu Ni & Yajia Liang, 2022. "The Influence of External Environment Factors on Farmers’ Willingness to Withdraw from Rural Homesteads: Evidence from Wuhan and Suizhou City in Central China," Land, MDPI, vol. 11(9), pages 1-13, September.
- Wentao Si & Chen Jiang & Lin Meng, 2022. "Leaving the Homestead: Examining the Role of Relative Deprivation, Social Trust, and Urban Integration among Rural Farmers in China," IJERPH, MDPI, vol. 19(19), pages 1-28, October.
- Bao, Helen X.H. & Robinson, Guy M., 2022. "Behavioural land use policy studies: Past, present, and future," Land Use Policy, Elsevier, vol. 115(C).
- Jia Gao & Ge Song & Shuhan Liu, 2022. "Factors influencing farmers’ willingness and behavior choices to withdraw from rural homesteads in China," Growth and Change, Wiley Blackwell, vol. 53(1), pages 112-131, March.
- Kangchuan Su & Jiang Wu & Yan Yan & Zhongxun Zhang & Qingyuan Yang, 2022. "The Functional Value Evolution of Rural Homesteads in Different Types of Villages: Evidence from a Chinese Traditional Agricultural Village and Homestay Village," Land, MDPI, vol. 11(6), pages 1-22, June.
- Long Cheng & Zhengchun Xu & Jintao Li, 2022. "Promote or Demote? Investigating the Impacts of China’s Transferable Development Rights Program on Farmers’ Income: A Case Study from Chongqing," IJERPH, MDPI, vol. 19(21), pages 1-20, October.
- Ting Zhang & Jia Li & Yan Wang, 2023. "Effects of Livelihood Capital on the Farmers’ Behavioral Intention of Rural Residential Land Development Right Transfer: Evidence from Wujin District, Changzhou City, China," Land, MDPI, vol. 12(6), pages 1-16, June.
- Jing Wang & Kai Zhao & Yue Cui & Hui Cao, 2022. "Formal and Informal Institutions in Farmers’ Withdrawal from Rural Homesteads in China: Heterogeneity Analysis Based on the Village Location," Land, MDPI, vol. 11(10), pages 1-19, October.
- Ranran Shi & Ling Hou & Binghui Jia & Yaya Jin & Weiwei Zheng & Xiangdong Wang & Xianhui Hou, 2022. "Effect of Policy Cognition on the Intention of Villagers’ Withdrawal from Rural Homesteads," Land, MDPI, vol. 11(8), pages 1-17, August.
- Yanqi Xie & Shuifa Ke & Xiaojing Li, 2023. "Psychological Resilience and Farmers’ Homestead Withdrawal: Evidence from Traditional Agricultural Regions in China," Agriculture, MDPI, vol. 13(5), pages 1-19, May.
- Hanlong Gu & Yuqing He & Bingyi Wang & Fengkui Qian & Yan Wu, 2023. "The Influence of Aging Population in Rural Families on Farmers’ Willingness to Withdraw from Homesteads in Shenyang, Liaoning Province, China," Land, MDPI, vol. 12(9), pages 1-25, September.
- Weiyan Qi & Zhemin Li & Changbin Yin, 2022. "Response Mechanism of Farmers’ Livelihood Capital to the Compensation for Rural Homestead Withdrawal—Empirical Evidence from Xuzhou City, China," Land, MDPI, vol. 11(12), pages 1-18, November.
- Xianjun Wang & Junfang Kang, 2023. "Decision Making and Influencing Factors in Withdrawal of Rural Residential Land-Use Rights in Suzhou, Anhui Province, China," Land, MDPI, vol. 12(2), pages 1-20, February.
- Yujun Zhou & Jingming Liu & Xiang Kang, 2022. "Market-Driven Rural Construction—A Case Study of Fuhong Town, Chengdu," Sustainability, MDPI, vol. 14(10), pages 1-19, May.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Yan, Jinming & Yang, Yumeng & Xia, Fangzhou, 2021. "Subjective land ownership and the endowment effect in land markets: A case study of the farmland “three rights separation” reform in China," Land Use Policy, Elsevier, vol. 101(C).
- Drouvelis, Michalis & Sonnemans, Joep, 2017.
"The endowment effect in games,"
European Economic Review, Elsevier, vol. 94(C), pages 240-262.
- Michalis Drouvelis & Joep Sonnemans, 2015. "The Endowment Effect in Games," Tinbergen Institute Discussion Papers 15-114/I, Tinbergen Institute.
- Committee, Nobel Prize, 2017. "Richard H. Thaler: Integrating Economics with Psychology," Nobel Prize in Economics documents 2017-1, Nobel Prize Committee.
- Ebo Botchway & Jan Verpooten & Ine van der Beken & Justina Baršytė & Siegfried Dewitte, 2023. "The Endowment Effect in the Circular Economy: Do Broken Products Face Less of a Trading Barrier Than Intact or Repaired Ones?," Sustainability, MDPI, vol. 15(15), pages 1-19, August.
- Daniel Villanova, 2019. "The extended self, product valuation, and the endowment effect," AMS Review, Springer;Academy of Marketing Science, vol. 9(3), pages 357-371, December.
- Eduard Marinov, 2017. "The 2017 Nobel Prize in Economics," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 117-159.
- Colucci, Domenico & Franco, Chiara & Valori, Vincenzo, 2024. "The endowment effect with different possession times and types of items," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 110(C).
- William S. Neilson & Michael McKee & Robert P. Berrens, 2013. "Value and outcome uncertainty as explanations for the WTA vs WTP disparity," Chapters, in: John A. List & Michael K. Price (ed.), Handbook on Experimental Economics and the Environment, chapter 6, pages 171-189, Edward Elgar Publishing.
- Christina McGranaghan & Steven G. Otto, 2022. "Choice uncertainty and the endowment effect," Journal of Risk and Uncertainty, Springer, vol. 65(1), pages 83-104, August.
- María del Pilar García Pachón, 2016. "Instrumentos Económicos Y Financieros Para La Gestión Ambiental," Books, Universidad Externado de Colombia, Facultad de Derecho, number 853.
- Sayman, Serdar & Onculer, Ayse, 2005. "Effects of study design characteristics on the WTA-WTP disparity: A meta analytical framework," Journal of Economic Psychology, Elsevier, vol. 26(2), pages 289-312, April.
- Tsur, Matan, 2008. "The selectivity effect of past experience on purchasing decisions: Implications for the WTA-WTP disparity," Journal of Economic Psychology, Elsevier, vol. 29(5), pages 739-746, November.
- Shogren, Jason F., 2006. "Experimental Methods and Valuation," Handbook of Environmental Economics, in: K. G. Mäler & J. R. Vincent (ed.), Handbook of Environmental Economics, edition 1, volume 2, chapter 19, pages 969-1027, Elsevier.
- Brown, Thomas C. & Gregory, Robin, 1999. "Why the WTA-WTP disparity matters," Ecological Economics, Elsevier, vol. 28(3), pages 323-335, March.
- Bodo Sturm & Joachim Weimann, 2006. "Experiments in Environmental Economics and Some Close Relatives," Journal of Economic Surveys, Wiley Blackwell, vol. 20(3), pages 419-457, July.
- Banzhaf, H. Spencer, 2016. "Constructing markets: environmental economics and the contingent valuation controversy," MPRA Paper 78814, University Library of Munich, Germany.
- Bass, Daniel A. & McFadden, Brandon R. & Messer, Kent D., 2021. "A case for measuring negative willingness to pay for consumer goods," Food Policy, Elsevier, vol. 104(C).
- Jae-Do Song & Young-Hwan Ahn, 2019. "Cognitive Bias in Emissions Trading," Sustainability, MDPI, vol. 11(5), pages 1-13, March.
- Biel, Anders & Johansson-Stenman, Olof & Nilsson, Andreas, 2011.
"The willingness to pay–willingness to accept gap revisited: The role of emotions and moral satisfaction,"
Journal of Economic Psychology, Elsevier, vol. 32(6), pages 908-917.
- Biel, Anders & Johansson-Stenman, Olof & Nilsson, Andreas, 2011. "The Willingness to Pay-Willingness to Accept Gap Revisited: The Role of Emotions and Moral Satisfaction," Working Papers in Economics 497, University of Gothenburg, Department of Economics.
- Sardaro, Ruggiero & Faccilongo, Nicola & Roselli, Luigi, 2019. "Wind farms, farmland occupation and compensation: Evidences from landowners’ preferences through a stated choice survey in Italy," Energy Policy, Elsevier, vol. 133(C).
More about this item
Keywords
Endowment effect; Withdrawal from rural homesteads (WRH); Agrarian transition; Social differentiation; Occupational differentiation; Logistics regression;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:lauspo:v:101:y:2021:i:c:s0264837719323178. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joice Jiang (email available below). General contact details of provider: https://www.journals.elsevier.com/land-use-policy .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.