what would the identity element for wedge products exactly be

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i was not sure about the identity element for the wedge product $\wedge$. For $\omega \in \Lambda^kV^{*}$ Would the identity element give $\omega\wedge 1= -1\wedge \omega$, or $\omega \wedge 1 = 1 \wedge \omega$, or something else and i did not understand this properly? Could anyone give some hint? Thanks in advance and best regards!