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' choices. Because social recognition generates utility from esteem to some but disutility from shame to others, it can be … either positive-sum, zero-sum, or negative-sum. This depends on whether the social recognition utility function is convex … find that the social recognition utility function is significantly concave and thus generates deadweight loss. If our …
Persistent link: https://www.econbiz.de/10012479589
durable goods. We show that consumers' utility and discount functions in a dynamic discrete choice model are jointly … identified using data generated by this specific design. In contrast, based on revealed preference data, the utility and discount …
Persistent link: https://www.econbiz.de/10012460266
exists a utility function that the choices maximize. We conduct a large-scale field experiment that enables us to test … subjects' choices for consistency with utility maximization and to combine the experimental data with a wide range of … consistent than women, and young subjects are more consistent than older subjects. We also find that consistency with utility …
Persistent link: https://www.econbiz.de/10012461866
being. They are Hicksian equivalents in that the price changes yield the same utility changes as would the quantity or …
Persistent link: https://www.econbiz.de/10012464744
because of inconsistencies in revealed preferences across behavioral frames. We adapt theories of expected utility …
Persistent link: https://www.econbiz.de/10015056138
This paper develops a dynamic model of neighborhood choice along with a computationally light multi-step estimator. The proposed empirical framework captures observed and unobserved preference heterogeneity across households and locations in a flexible way. The model is estimated using a newly...
Persistent link: https://www.econbiz.de/10012461407
We develop a framework to estimate willingness to pay (WTP) for clean air from defensive investment. Applying this framework to product-by-store level scanner data on air purifier sales in China, we provide among the first revealed preference estimates of WTP for clean air in developing...
Persistent link: https://www.econbiz.de/10012456310
Background: Most applications of choice-based conjoint analysis in health use choice tasks with only two profiles, while those in marketing routinely use three or more. This study reports on a randomized trial comparing paired with triplet profile choice formats focused on measuring patient...
Persistent link: https://www.econbiz.de/10012461175
Individuals who are likely to realize the largest benefits from improvements in air quality often depend on other members of their households to make time or monetary contributions to their care. The presence of these dependency relationships among household members poses challenges for benefit...
Persistent link: https://www.econbiz.de/10012463284
Environmental, social, and governance (ESG) objectives have risen to near the top of the agenda for corporate executives and boards, driven in large part by their perceptions of shareholder interest. We quantify the value that shareholders place on ESG using a revealed preference approach, where...
Persistent link: https://www.econbiz.de/10013477200