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Does Market Experience Eliminate Market Anomalies? The Case of Exogenous Market Experience

List, John A. - 2011

A vibrant literature has emerged that suggests willingness to pay and willingness to accept measures of value are quite different for inexperienced consumers but that value differences erode with market experience. One potential shortcoming of this literature is that market experience is...

Persistent link: https://www.econbiz.de/10013127977

Is the Endowment Effect a Reference Effect?

Heffetz, Ori - 2011

This paper is aimed to assess, with two lab experiments, to what extent Kőszegi and Rabin's (2006) model of expectations-based reference-dependent preferences can explain Knetsch's (1989) endowment effect. Departing from past work, we design an experiment that treats the two goods (a mug and a...

Persistent link: https://www.econbiz.de/10013131234

A Dynamic Explanation of the Willingness to Pay and Willingness to Accept Disparity

Kling, Catherine L. - 2014

Evidence from laboratory experiments suggests that important disparities exist between willingness to pay (WTP) and compensation demanded for the same good. This study advances, and experimentally tests, a new explanation of the WTP/WTA disparity--a dynamic theory based on the presence of...

Persistent link: https://www.econbiz.de/10013069109

Paying for Kidneys? A Randomized Survey and Choice Experiment

Elias, Julio - 2019

Legislation and public policies are often the result of competition and compromise between different views and interests. In several cases, strongly held moral beliefs voiced by societal groups lead lawmakers to prohibit certain transactions or to prevent them from occurring through markets....

Persistent link: https://www.econbiz.de/10012891786

Do Workers Value Flexible Jobs? A Field Experiment

He, Haoran - 2019

We explore workers' valuation of job flexibility, using a field experiment conducted on a Chinese job board. Our experimental job ads differ randomly in offering jobs that are flexible regarding when one works (time flexibility) or where one works (place flexibility), and offering different...

Persistent link: https://www.econbiz.de/10012895490

Willingness to Pay and Willingness to Accept are Probably Less Correlated than You Think

Chapman, Jonathan - 2017

An enormous literature documents that willingness to pay (WTP) is less than willingness to accept (WTA) a monetary amount for an object, a phenomenon called the endowment effect. Using data from an incentivized survey of a representative sample of 3,000 U.S. adults, we add one (probably)...

Persistent link: https://www.econbiz.de/10012945150

Measuring and Changing Control : Women's Empowerment and Targeted Transfers

Almås, Ingvild - 2015

This paper studies how targeted cash transfers to women affect their empowerment. We use a novel identification strategy to measure women's willingness to pay to receive cash transfers instead of their partner receiving it. We apply this among women living in poor households in urban Macedonia....

Persistent link: https://www.econbiz.de/10013011928

The Endowment Effect

Ericson, Keith M. Marzilli - 2013

The endowment effect is among the best known findings in behavioral economics, and has been used as evidence for theories of reference-dependent preferences and loss aversion. However, a recent literature has questioned the robustness of the effect in the laboratory, as well as its relevance in...

Persistent link: https://www.econbiz.de/10013076912

Education and Mortality : Evidence from a Social Experiment

Meghir, Costas - 2012

mortality and health. Using the gradual phase-in of the reform between 1949 and 1962 across municipalities, we estimate …

Persistent link: https://www.econbiz.de/10013108600

The Children of the Missed Pill

Rau, Tomás - 2017

and newborn health. Our empirical strategy combines multiple sources of information and takes into account the seasonality … evidence of significant deterioration of newborn health as measured by the incidence of low birthweight and infant mortality … health, and thereby may improve the average health of children conceived …

Persistent link: https://www.econbiz.de/10012946020