Influence Of Self-Construct And Self-Association On Endowment Effect

Endowment effect is a steady effect in the field of judgment and decision making and plays an important role in daily economic life.Individual personality traits will have a lot of influence on their decision-making behavior,but there are few studies on the endowment effect from the perspective of personality.In order to explore the influence of self-construct personality trait on endowment effect and its influence mechanism,this paper takes college students as the research object and empirically explores through four experiments on the basis of relevant studies on self-construct,self-association and endowment effect.Experiment 1 uses circle pronoun task to verify the priming effect of individual selfconstruct.Experiment 2a takes the mug as the trading object and uses the classic paradigm of endowment effect to study how the self-constructs formed immediately under different situations influence the endowment effect.Experiment 2b takes the laptop computer as the trading object to verify whether the influence result of experiment 2a can be extended to high-value items.Experiment 3 investigated the internal mechanism of self-construct influencing endowment effect,and added self-association variables to explore the relationship among the three.The results show that under different priming conditions,college students’ self-constructs show different characteristics,and independent selfconstruct primes have a greater influence on college students’ self-constructs.Selfconstructs influence the endowment effect.Compared with individuals with interdependent self-constructs,individuals with independent self-constructs have stronger endowment effect,and the result can be extended to high-value goods.Under the condition of self-association,the interaction between self-construct and endowment effect was significant.Under the condition of self-disassociation,all groups of participants showed no endowment effect.The results show that there was a priming effect of selfconstruct in college students,and their cultural framework changed temporarily with the change of experimental situation.Under different self-construct conditions,individuals show different degrees of endowment effect.Self-association is the potential mechanism that self-construct influences the endowment effect.When the association between individuals and goods is prominent,individuals show stronger endowment effect in the valuation of goods.This study introduce the important personality traits of individual self-construction into the study of factors influencing the endowment effect,revealed the results of the influence of self-construction on individual endowment effect and the role of selfassociation in this effect,expand the research theories in related fields,and provide some references for individual decision-making behavior.