Beyond the mere ownership and endowment effects: Over-valuing objects lost and found

• Do owned objects become more valued if lost and found? In Experiment 1 Prolific participants (n=128) imagined having lost a laptop. Results showed a preference for finding the laptop instead of replacing it with a new at no cost. The preference was even stronger if the laptop had been used longer (two months instead of two days) and was certain to be found without any cost. Experiment 2 recruited additional Prolific participants to investigate the role of positive affect evoked by finding or expecting to find a lost object. In a Lost condition (n=50) participants imagined having lost an expensive pair of gloves which later was found. Compared to a No Loss condition (n=50), preference to keep the gloves was higher. Increased value and positive affect partially mediated this preference.

Subject headings

SAMHÄLLSVETENSKAP  -- Psykologi -- Psykologi (hsv//swe)

SOCIAL SCIENCES  -- Psychology -- Psychology (hsv//eng)

Keyword

lost-and-found effect

endowment effect

psychological ownership

break-even effect

value-affect mediation

Publication and Content Type

ref (subject category)

art (subject category)