Private Law Theory

INTRODUCTION
… Therefore, this Article fills this empirical gap and tests whether, and to what extent, the endowment effect applies directly to the promises to exchange goods (ie, contracts), rather than to the property that is frequently exchanged through the medium of contract. More specifically, the question explored in this Article is whether an individual who does not yet ‘own’ an item, but merely has some contractual right to obtain that item at some future date would also experience something like the endowment effect in the promise itself.

Marco Jimenez, Bridging The Property-Contract Divide: Testing The Endowment Effect In Contract Law 68 DePaul Law Review (2019).

First posted 2019-02-16 10:08:45