This effect is best known from a 1990 Kahneman, Knetch, and Thaler experiment that used Cornell coffee mugs.
In an April 2008 William & Mary Law Review Article about a "new theory" of this effect, Owen Jones and Sarah Brosnan observed it in chimpanzees and argued that this effect is the result of natural selection and is more likely to be seen in evolutionarily relevant situations. A 2007 paper by Charles Plott and Kathryn Zeiler gave alternative interpretations to the data used to support the existence of this effect. In 1998, Strahilevitz and Lowenstien observed that this effect can be caused by past situations. Military historian John A. Lynn has used this effect to explain the start of the War of the League of Augsburg and the War of the Spanish Succession. Dan Ariely and Ziv Carmon observed this effect in 1994 before a Final Four game at Duke. This effect is best known from a 1990 Kahneman, Knetch, and Thaler experiment that used Cornell coffee mugs. For ten points, name this cognitive bias that undermines the Coase Theorem, wherein people value an object more if they have possession of it.
In an April 2008 William & Mary Law Review Article about a "new theory" of this effect, Owen Jones and Sarah Brosnan observed it in chimpanzees and argued that this effect is the result of natural selection and is more likely to be seen in evolutionarily relevant situations.
{endowment} effect