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Project title Testing the Endowment Effect: Assessing valueScience project video
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Description
The endowment affect is a phenomenon which states that people will value an item more if they have ownership of it. In this experiment, you will be testing the endowment affect as it relates to assessing the value of an item. Two groups of participants will appraise the value of an item. The participants of one group will own the item, while the participants of the other group will be loaned a similar item. Will the two groups assess the items differently? 

Instructions preview
* Divide the participants into two groups: Group A and Group B. * Gather the participants of Group A and do the following: * Advise them they are going to be part of an experiment. * Give each participant a mug, telling them that they can use the mug during the course of the experiment, and to return the mugs at the end of the exercise. * Ask them to assess the value of the mug. * Record each participant?s response in the data sheet. * For Group B, do the following: * Advise them they are going to .....
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