AER (version 0.2-2)

SportsCards: Endowment Effect for Sports Cards

Description

Trading sports cards: Does ownership increase the value of goods to consumers?

Usage

data("SportsCards")

source

Online complements to Stock and Watson (2007).

http://wps.aw.com/aw_stock_ie_2/

Details

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.

References

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.

See Also

StockWatson2007

Examples

data("SportsCards")
summary(SportsCards)

plot(trade ~ permonth, data = SportsCards,
  ylevels = 2:1, breaks = c(0, 5, 10, 20, 30, 70))
plot(trade ~ years, data = SportsCards,
  ylevels = 2:1, breaks = c(0, 5, 10, 20, 60))