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Stated willingness-to-pay from hypothetical surveys generally exceeds revealed willingness-to-pay from real purchase experiments. One explanation for this hypothetical bias which has been put forward is that participants use high willingness-to-pay statements for public goods to improve their...
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This paper proposes a model that can be implemented to estimate the willingness to pay for distributive justice … distributive justice from fiscal data and the estimated coefficients of a probit regression. Using this formula and data from a … 1998 Gallup Social Audit, we find that on average the monetary value of justice for US households amounts to about one …
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This paper proposes a model that can be implemented to estimate the willingness to pay for distributive justice. A … formula is derived that allows one to recover the willingness to pay for distributive justice from the estimated coefficients … monetary value of justice in the United States is about one fifth of GDP. We find no evidence that the value of justice varies …
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