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Project title Testing the Endowment effect: Willingness to tradeScience project video
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Description
The endowment affect is a cognitive phenomenon where it is observed that people will often value an item more if they have ownership of it. In this experiment, the participants of one group will own a possession. In the other group, participants will be given a possession to trade with; however, they will not own the possession. How will the two groups react in a trading situation? 

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 in any manner they like. * For Group B, do the following: * Advise them they are going to be part of an experiment. * Give each participant a mug, telling them that this mug is a gift to them for their participation in .....
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