The ability to solve problems of collective action is crucial for economic performance. Growth-fostering behavioral propensities such as respecting property, honoring contracts, or helping others are collectively beneficial but individually costly. The paradigmatic formalization of this...

People report much larger willingness to accept (WTA) than willingness to pay (WTP) under a broad range of circumstances. This dissertation tries to answer the question when people will report this gap, how large the difference between the two answers will be and what reasons lie behind this...