Journal of the Academy of Marketing Science

, Volume 47, Issue 1, pp 97–117 | Cite as

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

  • Charan K. BaggaEmail author
  • Neil Bendle
  • June Cotte
Original Empirical Research


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 and non-ownership physical possession. Additionally, psychological ownership varies for different possession types (ownership, renting, and borrowing) as its contributing routes (control, self-investment, and knowledge) operate differently for each possession type. As further evidence of the psychological ownership based theoretical account, the research shows that rented objects are not valued higher than non-possessed objects if the control or self-investment routes of psychological ownership are suppressed. The moderating influence of product hedonism–utilitarianism and consumers’ tightwad–spendthrift tendency on the valuation of rented and borrowed objects is also examined.


Object valuation Renting Borrowing Psychological ownership Endowment effect Willingness-to-pay Experiments 

Supplementary material

11747_2018_596_MOESM1_ESM.docx (1.1 mb)
ESM 1 (DOCX 1095 kb)


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Copyright information

© Academy of Marketing Science 2018

Authors and Affiliations

  1. 1.Haskayne School of BusinessUniversity of CalgaryCalgaryCanada
  2. 2.Ivey Business SchoolWestern UniversityLondonCanada

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