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Human Behavior Science Fair Project

Testing the Endowment Effect

Hard
Testing the Endowment Effect | Science Fair Projects | STEM Projects
Ever wonder why people value something more if they own it? This experiment will help you find out! You'll divide participants into two groups and give each group a mug. Then, you'll observe the groups to see if they're more likely to trade their mugs if they own them.

Hypothesis

The hypothesis is that people will value a particular possession more if they own it.

Method & Materials

You will divide participants into two groups, give each group a mug, and observe the groups to see if they're more likely to trade their mugs if they own them.
You will need participants (at least 8), items for each participant (all items should be the same), and a data sheet.

Results

The results of the experiment showed that Group A, who owned the mugs, were more likely to trade than Group B, who were given the mugs as a gift. This suggests that people value possessions more if they own them.

Why do this project?

This science project is interesting because it helps to explain why people behave irrationally in certain situations. It also helps to explain concepts such as sunk costs.

Also Consider

Variations of this experiment could include using different items for the participants, or having the participants trade items of different values.

Full project details

You can find additional information and details for this science fair project here. Have fun exploring!

Related videos

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