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We review the theoretical and empirical literature on commitment devices. A commitment device is any arrangement, entered into by an individual, with the aim of making it easier to fulfill his or her own future plans. We argue that there is growing empirical evidence supporting the proposition...
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Experimental research on decision making under risk has until now always employed choice data in order to evaluate the empirical performance of expected utility and the alternative nonexpected utility theories. The present paper performs a similar analysis which relies on pricing data instead of...
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present a brief introduction of the payment card approach and introduce several methods to estimate the WTP with payment cards …, which we subsequently use to estimate WTP values regarding green vegetables, green meat and green eggs in China. Our results … indicate that consumers in big cities are willing to pay a higher premium for green food and that WTP values are relatively …
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contingent valuation surveys that elicit the willingness to pay (WTP) for mortality risk reductions. We examine the importance of … response effects, and internal validity of the WTP responses. We illustrate the importance of these factors using dichotomous …-choice and open-ended WTP data from four recent contingent valuation surveys. …
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generations' willingness to pay (WTP) and the PV of their willingness to accept compensation (WTA); second, the discount rates … implicit in the computation of the PVs are endogenous, and rising (declining) over time for the future generations' WTP (WTA …
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