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Once Upon a Time Preference - How Rationality and Risk Aversion Change the Rationale for Discounting
Traeger, Christian - CESifo - 2012
The paper develops an axiomatic framework for rational decision making. The von Neumann-Morgenstern axioms give rise to a richer risk attitude than that captured in the standard discounted expected utility model. I derive three models that permit a more comprehensive risk evaluation. These...
Persistent link: https://www.econbiz.de/10010544183
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Within- and between- sample tests of preference stability and willingness to pay for forest management
Czajkowski, Mikołaj; Bartczak, Anna; Budziński, Wiktor; … - Wydział Nauk Ekonomicznych, Uniwersytet Warszawski - 2014
The assumption of the stability of preferences is a fundamental one in the theory of the consumer. Many papers within …
Persistent link: https://www.econbiz.de/10010929617
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Within- and between- sample tests of preference stability and willingness to pay for forest management
Czajkowski, Mikolaj; Barczak, Anna; Budzinski1, Wiktor … - Environmental Economics Research Group, Department of … - 2014
The assumption of the stability of preferences is a fundamental one in the theory of the consumer. Many papers within …
Persistent link: https://www.econbiz.de/10010929630
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Field Experiments: A Bridge Between Lab and Naturally-Occurring Data
list, john - National Bureau of Economic Research (NBER) - 2007
field experiments can yield important insights into economic theory and provide useful guidance to policymakers. I also draw …
Persistent link: https://www.econbiz.de/10005084551
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When is some number really better than no number? On the optimal choice between non-market valuation methods
Munro, Alistair - Volkswirtschaftliche Fakultät, … - 2007
Decision-makers have a wide variety of competing and complementary methods for non-market valuation, but there is little formal advice on the choice of method. I offer a formal approach, using a loss function (the mean square error) to compare contingent valuation, Citizens'Jury and methods...
Persistent link: https://www.econbiz.de/10005836923
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A note on the valuation of collective goods: overlooked input market free riding for non-individually incrementable goods
Graves, Philip E. - Volkswirtschaftliche Fakultät, … - 2009
initial incomes are implicitly–and wrongly–taken to be optimal. From a given income, the output demand revelation problem has … long been recognized–that there will be difficulty inferring true demands for public goods at that income (the traditional … individually increment a class of goods by increasing their income (e.g. public goods), they will have no incentive to generate the …
Persistent link: https://www.econbiz.de/10008493588
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Social norms, morals and self-interest as determinants of pro-environment behaviour
Czajkowski, Mikołaj; Hanley, Nick; Nyborg, Karine - Wydział Nauk Ekonomicznych, Uniwersytet Warszawski - 2014
This paper considers the role which selfish, moral and social incentives and pressures play in explaining the extent to which stated choices over pro-environment behaviours vary across individuals. The empirical context is choices over household waste contracts and recycling actions in Poland. A...
Persistent link: https://www.econbiz.de/10010789230
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Value learning and the willingness to accept–willingness to pay disparity
Kingsley, David C.; Brown, Thomas C. - In: Economics Letters 120 (2013) 3, pp. 473-476
The assumption that individual preferences are rational and consistent with standard economic theory is often …
Persistent link: https://www.econbiz.de/10010681748
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Preferences, rational choices and economic valuation: Some empirical tests
Rulleau, Bénédicte; Dachary-Bernard, Jeanne - In: Journal of Behavioral and Experimental Economics … 41 (2012) 2, pp. 198-206
This study focuses on the respondent rationality hypothesis, usually assumed to be true in Discrete Choice Experiments. We examine lexicographic preferences, the influence of consistency, and the role of task complexity in the individual choice process. To this end, we carry out rationality...
Persistent link: https://www.econbiz.de/10011051753
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Within- and between- sample tests of preference stability and willingness to pay for forest management
Czajkowski, Mikolaj; Barczak, Anna; Budzinski1, Wiktor … - Environmental Economics Research Group, Department of … - 2014
The assumption of the stability of preferences is a fundamental one in the theory of the consumer. Many papers within …
Persistent link: https://www.econbiz.de/10011084746