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We present the results of an experiment involving established couples, which uses choices between lotteries to test some economic models of household decision-making. Subjects make choices individually and jointly and are asked to make predictions about their partners choices. Income pooling is...
Persistent link: https://www.econbiz.de/10010319027
Given the evidence against the unitary model of the household, there is a need to understand the predictions of alternative household models within the context of valuation. This paper derives the relationship between household and individual willingness to pay (WTP) for the non-cooperative...
Persistent link: https://www.econbiz.de/10010319056
An experimental design using treatments of a voluntary contribution mechanism is used to test household efficiency. Efficiency is decisively rejected in all treatments contrary to the assumption of most household models. Information on initial endowments of spouses improves efficiency only in...
Persistent link: https://www.econbiz.de/10010319842
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An experimental design using treatments of a voluntary contribution mechanism is used to test household efficiency. Efficiency is decisively rejected in all treatments contrary to the assumption of most household models. Information on initial endowments of spouses improves efficiency only in...
Persistent link: https://www.econbiz.de/10009704216
Persistent link: https://www.econbiz.de/10010256146
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