Bellemare, Charles; Sebald, Alexander; Strobel, Martin - Centre Interuniversitaire sur le Risque, les Politiques … - 2010
in equilibrium (i.e. consistent with the choice distribution) with models estimated using stated beliefs which relax the … equilibrium requirement. We estimate WTP in the later case by allowing stated beliefs to be correlated with guilt aversion, thus … estimated using stated beliefs is substantially overestimated (by a factor of two) when correlation between preferences and …