Two main theories explain the endowment effect: loss aversion and attachment. We draw from neuroscience literature on the malleability of human perception to disentangle the impact of loss aversion and attachment on the endowment effect. Through a visual manipulation, we first examined how valuation of an object changed. After this, participants as buyers and sellers provided their willingness to pay (WTP) and willingness to accept (WTA), respectively. The results across the studies offer important insights into the role of attachment and loss aversion in the WTA–WTP disparity. The loss aversion account would not predict any change in WTA–WTP disparity across control and experimental groups, whereas the attachment account would predict an increase in both WTP and WTA from control to experimental conditions. Our results are inconsistent with both accounts and hint at a more nuanced view of a multiplicative or joint influence of loss aversion and attachment on WTA–WTP disparity.

中文翻译：

---

幻肢和理解 WTA-WTP 差异的新方法。

两种主要的理论解释了禀赋效应：损失厌恶和依恋。我们从关于人类感知可塑性的神经科学文献中汲取灵感，以解开损失厌恶和依恋对禀赋效应的影响。通过视觉操作，我们首先检查了对象的估值如何变化。在此之后，作为买家和卖家的参与者分别提供了他们的支付意愿（WTP）和接受意愿（WTA）。研究结果为依恋和损失厌恶在 WTA-WTP 差异中的作用提供了重要见解。损失厌恶帐户不会预测控制组和实验组之间 WTA-WTP 差异的任何变化，而依恋帐户会预测从控制到实验条件下 WTP 和 WTA 的增加。