Using a laboratory experiment, we investigate the validity of stated risks elicited via the Exchangeability Method (EM) using an evaluation method based on de Finetti’s notion of coherence, under which probability estimates are valid if and only if they obey all axioms of probability theory....

The validity of risk estimates elicited through the Exchangeability Method (EM) has been theoretically questioned because the use of chained questions may undermine the incentive compatibility of the game even when subjects are rewarded with real monetary incentives. In this paper, we examine...

Food safety policy programs often involve communication campaigns that inform the general public about reductions in the risk of experiencing negative outcomes in the future. Using a stated-choice survey, we find that people do not fully accept scientific risk estimates, but they adjust these to...

Using a laboratory experiment, we investigate the validity of stated risks elicited via the Exchangeability Method (EM) by defining a valuation method based on de Finetti’s notion of coherence. The reliability of risk estimates elicited through the EM has been theoretically questioned because...

In choice experiment (CE) applications, subjects are typically assumed to fully accept information given in the status quo (SQ) alternative, however, subjects might adjust such information on the basis of their subjective beliefs. This phenomenon is known as scenario adjustment. By using a CE...

Consumers’ food choices often deviate from rationality. This paper explores whether deviations from rationality impact home-grown values elicited using either bid- or choice-based value elicitation techniques. The paper focuses on second-price Vickrey auctions and discrete choice experiments,...

The study of climate change perceptions of people Many studies in psychology suggest that laypeople perceive climate change as a moderate risk. While the climate changes were described as an abstract phenomenon in previous investigations, here we describe climate change as the source of a...

The study of climate change perceptions of people Many studies in psychology suggest that laypeople perceive climate change as a moderate risk. While the climate changes were described as an abstract phenomenon in previous investigations, here we describe climate change as the source of a...