Object valuation and non-ownership possession: how renting and borrowing impact willingness-to-pay

Prior research on object valuation ignores the effect of non-ownership physical possession types such as renting and borrowing. Evidence from four experiments demonstrates that the valuation (i.e., willingness-to-pay) for rented objects is greater than the valuation for non-possessed or borrowed objects. Borrowed objects are not valued any differently than non-possessed objects. Psychological ownership mediates the relationship between valuation...