Is there ownership for money?

Abstract

The experimental results from this study show that at least 50% of the subjects ask for more than a bill’s face value when selling it (they ask for a premium), which indicates that there is an ownership effect for money. We also found that subjects who were asked to record the serial number of the bill requested a higher premium, indicating that this act strengthened the ownership effect.

Keywords:

• holding duration
• WTA
• money
• ownership

JEL Classification:

• C91
• C90
• D00

Notes

¹ Approximately USD 6.