{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,10,12]],"date-time":"2025-10-12T20:21:58Z","timestamp":1760300518452,"version":"3.41.0"},"reference-count":22,"publisher":"Association for Computing Machinery (ACM)","issue":"2","license":[{"start":{"date-parts":[[2020,12,2]],"date-time":"2020-12-02T00:00:00Z","timestamp":1606867200000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/www.acm.org\/publications\/policies\/copyright_policy#Background"}],"content-domain":{"domain":["dl.acm.org"],"crossmark-restriction":true},"short-container-title":["SIGecom Exch."],"published-print":{"date-parts":[[2020,12,2]]},"abstract":"<jats:p>\n            The\n            <jats:italic>endowment effect<\/jats:italic>\n            , coined by Nobel Laureate Richard Thaler, posits that people tend to inflate the value of items they own. Recently, Babaioff, Dobzinski and Oren [EC'18] introduced the notion of\n            <jats:italic>endowed valuations<\/jats:italic>\n            --- valuations that capture the endowment effect --- and studied the stability and efficiency of combinatorial markets with endowed valuations. They showed that under a specific formulation of the endowment effect, an\n            <jats:italic>endowed equilibrium<\/jats:italic>\n            --- market equilibrium with respect to endowed valuations --- is guaranteed to exist in markets with submodular valuations, but fails to exist under XOS valuations. We harness the endowment effect further by introducing a general framework that captures a wide range of different formulations of the endowment effect. The different formulations are (partially) ranked from weak to strong, based on a stability-preserving order. We then provide algorithms for computing endowment equilibria with high welfare for sufficiently strong endowment effects, and non-existence results for weaker ones. Among other results, we prove the existence of endowment equilibria under XOS valuations, and show that if one can pre-pack items into irrevocable bundles then an endowment equilibrium exists for arbitrary markets.\n          <\/jats:p>","DOI":"10.1145\/3440968.3440973","type":"journal-article","created":{"date-parts":[[2020,12,2]],"date-time":"2020-12-02T23:57:59Z","timestamp":1606953479000},"page":"38-44","update-policy":"https:\/\/doi.org\/10.1145\/crossmark-policy","source":"Crossref","is-referenced-by-count":1,"title":["A general framework for endowment effects in combinatorial markets"],"prefix":"10.1145","volume":"18","author":[{"given":"Tomer","family":"Ezra","sequence":"first","affiliation":[{"name":"Tel Aviv University"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Michal","family":"Feldman","sequence":"additional","affiliation":[{"name":"Tel Aviv University and Microsoft Research"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Ophir","family":"Friedler","sequence":"additional","affiliation":[{"name":"Tel Aviv University"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"320","published-online":{"date-parts":[[2020,12,2]]},"reference":[{"key":"e_1_2_1_1_1","doi-asserted-by":"publisher","DOI":"10.1145\/3219166.3219197"},{"key":"e_1_2_1_2_1","doi-asserted-by":"crossref","unstructured":"Blumrosen L. and Nisan N. 2007. Combinatorial auctions. Algorithmic game theory 267 300.  Blumrosen L. and Nisan N. 2007. Combinatorial auctions. Algorithmic game theory 267 300.","DOI":"10.1017\/CBO9780511800481.013"},{"key":"e_1_2_1_3_1","doi-asserted-by":"publisher","DOI":"10.1145\/2835172"},{"key":"e_1_2_1_4_1","doi-asserted-by":"publisher","DOI":"10.1007\/978-3-662-48995-6_22"},{"key":"e_1_2_1_5_1","doi-asserted-by":"publisher","DOI":"10.1145\/1060590.1060681"},{"key":"e_1_2_1_6_1","doi-asserted-by":"publisher","DOI":"10.5555\/1109557.1109675"},{"key":"e_1_2_1_7_1","doi-asserted-by":"crossref","unstructured":"Ezra T. Feldman M. and Friedler O. 2019. A general framework for endowment effects in combinatorial markets. arXiv preprint arXiv:1903.11360.  Ezra T. Feldman M. and Friedler O. 2019. A general framework for endowment effects in combinatorial markets. arXiv preprint arXiv:1903.11360.","DOI":"10.1145\/3391403.3399516"},{"key":"e_1_2_1_8_1","doi-asserted-by":"publisher","DOI":"10.1145\/3391403.3399516"},{"key":"e_1_2_1_9_1","doi-asserted-by":"publisher","DOI":"10.1137\/13094339X"},{"volume-title":"International Symposium on Algorithmic Game Theory. Springer, 158--169","author":"Feldman M.","key":"e_1_2_1_10_1","unstructured":"Feldman , M. and Lucier , B . 2014. Clearing markets via bundles . In International Symposium on Algorithmic Game Theory. Springer, 158--169 . Feldman, M. and Lucier, B. 2014. Clearing markets via bundles. In International Symposium on Algorithmic Game Theory. Springer, 158--169."},{"key":"e_1_2_1_11_1","doi-asserted-by":"publisher","DOI":"10.1145\/2229012.2229055"},{"key":"e_1_2_1_12_1","doi-asserted-by":"publisher","DOI":"10.1006\/jeth.1999.2531"},{"key":"e_1_2_1_13_1","doi-asserted-by":"publisher","DOI":"10.1086\/261737"},{"key":"e_1_2_1_14_1","doi-asserted-by":"publisher","DOI":"10.1257\/jep.5.1.193"},{"key":"e_1_2_1_15_1","doi-asserted-by":"publisher","DOI":"10.2307\/1913392"},{"key":"e_1_2_1_16_1","unstructured":"Knetsch J. L. 1989. The endowment effect and evidence of nonreversible indifference curves. The american Economic review 79 5 1277--1284.  Knetsch J. L. 1989. The endowment effect and evidence of nonreversible indifference curves. The american Economic review 79 5 1277--1284."},{"key":"e_1_2_1_17_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.geb.2005.02.006"},{"key":"e_1_2_1_18_1","doi-asserted-by":"publisher","DOI":"10.1162\/00335530360535144"},{"key":"e_1_2_1_19_1","doi-asserted-by":"publisher","DOI":"10.1257\/aer.101.3.313"},{"key":"e_1_2_1_20_1","doi-asserted-by":"publisher","DOI":"10.1016\/0167-2681(80)90051-7"},{"key":"e_1_2_1_21_1","doi-asserted-by":"crossref","unstructured":"Tversky A. and Kahneman D. 1979. Prospect theory: An analysis of decision under risk. Econometrica.  Tversky A. and Kahneman D. 1979. Prospect theory: An analysis of decision under risk. Econometrica.","DOI":"10.2307\/1914185"},{"volume-title":"\u00c9l\u00e9ments d'\u00e9conomie politique pure","author":"Walras L.","key":"e_1_2_1_22_1","unstructured":"Walras , L. 1874. \u00c9l\u00e9ments d'\u00e9conomie politique pure ; ou, Th\u00e9orie de la richesse sociale. Number v. 1-2. Corbaz . Walras, L. 1874. \u00c9l\u00e9ments d'\u00e9conomie politique pure; ou, Th\u00e9orie de la richesse sociale. Number v. 1-2. Corbaz."}],"container-title":["ACM SIGecom Exchanges"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/dl.acm.org\/doi\/10.1145\/3440968.3440973","content-type":"unspecified","content-version":"vor","intended-application":"text-mining"},{"URL":"https:\/\/dl.acm.org\/doi\/pdf\/10.1145\/3440968.3440973","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,6,17]],"date-time":"2025-06-17T22:02:51Z","timestamp":1750197771000},"score":1,"resource":{"primary":{"URL":"https:\/\/dl.acm.org\/doi\/10.1145\/3440968.3440973"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2020,12,2]]},"references-count":22,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2020,12,2]]}},"alternative-id":["10.1145\/3440968.3440973"],"URL":"https:\/\/doi.org\/10.1145\/3440968.3440973","relation":{},"ISSN":["1551-9031"],"issn-type":[{"type":"electronic","value":"1551-9031"}],"subject":[],"published":{"date-parts":[[2020,12,2]]},"assertion":[{"value":"2020-12-02","order":2,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]}}