| SportsCards | R Documentation |
Endowment Effect for Sports Cards
Description
Trading sports cards: Does ownership increase the value of goods to consumers?
Usage
data("SportsCards")Format
A data frame containing 148 observations on 9 variables.
- good
factor. Was the individual given good A or B (see below)?
- dealer
factor. Was the individual a dealer?
- permonth
number of trades per month reported by the individual.
- years
number of years that the individual has been trading.
- income
factor indicating income group (in 1000 USD).
- gender
factor indicating gender.
- education
factor indicating highest level of education (8th grade or less, high school, 2-year college, other post-high school, 4-year college or graduate school).
- age
age in years.
- trade
factor. Did the individual trade the good he was given for the other good?
Details
SportsCards contains data from 148 randomly selected traders who attended
a trading card show in Orlando, Florida, in 1998. Traders were randomly given one
of two sports collectables, say good A or good B, that had approximately equal market
value. Those receiving good A were then given the option of trading good A for good B
with the experimenter; those receiving good B were given the option of trading good B
for good A with the experimenter. Good A was a ticket stub from the game that Cal Ripken Jr.
set the record for consecutive games played, and Good B was a souvenir
from the game that Nolan Ryan won his 300th game.
Source
Online complements to Stock and Watson (2007).
References
List, J.A. (2003). Does Market Experience Eliminate Market Anomalies? Quarterly Journal of Economcis, 118, 41–71.
Stock, J.H. and Watson, M.W. (2007). Introduction to Econometrics, 2nd ed. Boston: Addison Wesley.
See Also
StockWatson2007
Examples
data("SportsCards")
summary(SportsCards)
plot(trade ~ permonth, data = SportsCards, breaks = c(0, 5, 10, 20, 30, 70))
plot(trade ~ years, data = SportsCards, breaks = c(0, 5, 10, 20, 60))