According to the harmonic sequence paradox (Blavatskyy 2006), an expected utility decision maker's willingness-to-pay for a gamble whose expected payoffs evolve according to the harmonic series is finite if and only if his marginal utility of additional income becomes zero for rather low payoff...

There is a large literature showing that willingness-to-accept (WTA) is usually much higher than willingness-to-pay (WTP) in empirical studies although they should be roughly equal according to traditional economic theory. A second stream of literature shows that people are typically ambiguity...

We conduct a randomized controlled trial in Mexico City to determine willingness to pay (WTP) for SMS air quality alerts and to study the effects of air quality alerts, reminders, and a reusable N95 mask on air pollution information and avoidance behavior. At baseline, we elicit WTP for the...