6  Kahneman, Knetsch and Thaler (1990)

Discussion paper: Kahneman et al. (1990) “Experimental tests of the endowment effect and the Coase theorem”, Journal of Political Economy

Supplementary papers:

• List (2021) “Experimental tests of the endowment effect and the Coase theorem (by Daniel Kahneman, Jack L. Knetsch, Richard H. Thaler)”, in The Art of Experimental Economics

This study is one of the most influential and cited papers in behavioural economics. It demonstrated an effect of behavioural factors in markets.

Kahneman, D., Knetsch, J. L., and Thaler, R. H. (1990). Experimental tests of the endowment effect and the Coase theorem. Journal of Political Economy, 98(6), 1325–1348. https://doi.org/10.1086/261737

List, J. A. (2021). Experimental tests of the endowment effect and the Coase theorem (by daniel kahneman, jack l. Knetsch, richard h. thaler). In G. Charness and M. Pingle (Eds.), The art of experimental economics (pp. 85–102). Routledge. https://doi.org/10.4324/9781003019121-8