The data exhibit no significant differences between WTA and WTP in either group. Thus, for these findings, endowment effect theory must be rejected. We also conclude that there is no significant difference between the young and the old. Excluding the difference of reference states, the experimental design was identical for both the seller and buyer groups. The median seller price is higher than the median buying price for each sample (Table 2). In the actual round, the coffee cup round, the median offer price for the sellers in the older population is $ and.
