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Credence Goods Markets and the Informational Value of New Media : A Natural Field Experiment
Kerschbamer, Rudolf - 2019
' reviews on social media platforms in search for trustworthy sellers. We present a natural field experiment that examines the …
Persistent link: https://www.econbiz.de/10012859603
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Willingness to Accept, Willingness to Pay, and Loss Aversion
Chapman, Jonathan; Dean, Mark; Ortoleva, Pietro; … - 2023
We use four incentivized representative surveys to study the endowment effect for lotteries in 4,000 U.S. adults. We replicate the standard finding of an endowment effect—the divergence between Willingness to Accept (WTA) and Willingness to Pay (WTP), but document three new findings. First, we...
Persistent link: https://www.econbiz.de/10014262473
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Experts and Epidemics
Gründler, Klaus - 2020
Do experts adjust their policy recommendations when the facts change? We conduct a large-scale randomized experiment … among 1,224 economic experts across 109 countries that includes two treatments. The first treatment is the geographic and … temporal variation in the initial spread of Covid-19 during March 2020, which we use as a natural experiment. The second is a …
Persistent link: https://www.econbiz.de/10012822503
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Robust Information Aggregation Through Voting
Midjord, Rune - 2019
Numerous theoretical studies have shown that information aggregation through voting is fragile. We consider a model of information aggregation with vote-contingent payoffs and generically characterize voting behavior in large committees. We use this characterization to identify the set of...
Persistent link: https://www.econbiz.de/10012866804
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Revenge of the Experts : Will COVID-19 Renew or Diminish Public Trust in Science?
Eichengreen, Barry; Aksoy, Cevat; Saka, Orkun - 2021
It is sometimes said that an effect of the COVID-19 pandemic will be heightened appreciation of the importance of scientific research and expertise. We test this hypothesis by examining how exposure to previous epidemics affected trust in science and scientists. Building on the “impressionable...
Persistent link: https://www.econbiz.de/10013246461
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Do People Value More Informative New?
Chopra, Felix - 2020
We examine whether the desire for more information is people's dominant motive for reading economic and political news. Drawing on representative samples of the U.S. population with more than 15,000 respondents in total, we measure and experimentally vary people's beliefs about the...
Persistent link: https://www.econbiz.de/10012843435
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Willingness to Accept, Willingness to Pay, and Loss Aversion
Chapman, Jonathan; Dean, Mark; Ortoleva, Pietro; … - 2023
We use four incentivized representative surveys to study the endowment effect for lotteries in 4,000 U.S. adults. We replicate the standard finding of an endowment effect–the divergence between Willingness to Accept (WTA) and Willingness to Pay (WTP), but document three new findings. First, we...
Persistent link: https://www.econbiz.de/10014290110
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Fighting Climate Change : The Role of Norms, Preferences, and Moral Values
Falk, Armin; Andre, Peter; Boneva, Teodora; Chopra, Felix - 2021
We document individual willingness to fight climate change and its behavioral determinants in a large representative sample of US adults. Willingness to fight climate change – as measured through an incentivized donation decision – is highly heterogeneous across the population. Individual...
Persistent link: https://www.econbiz.de/10013219074
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Testing Willingness to Pay Elicitation Mechanisms in the Field : Evidence from Uganda
Burchardi, Konrad; de Quidt, Jonathan; Gulesci, Selim; … - 2021
Researchers frequently use variants of the Becker-DeGroot-Marschak (BDM) mechanism to elicit willingness to pay (WTP). These variants involve numerous incentive-irrelevant design choices, some of which carry advantages for implementation but may deteriorate participant comprehension or trust in...
Persistent link: https://www.econbiz.de/10013244245
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Willingness to Pay for Workplace Safety
Anelli, Massimo; Koenig, Felix - 2021
This paper develops a revealed-preference approach that uses budget constrain discontinuities to price workplace safety. We track hourly workers who face the decision of how many hours to work at varying levels of Covid-19 risk and leverage state-specific discontinuities in unemployment...
Persistent link: https://www.econbiz.de/10013311704