Primarily because of the hypothetical character of interview situations, respondents are often unable to state their true willingness to pay (WTP). This inability results in the so-called hypothetical bias. To address this bias, incentive-compatible methods have been proposed, but such methods...

The South African wine industry has recently launched the world's first 'no sulphite added' wine made from indigenous Rooibos & Honeybush toasted wood chips. This wood chip contains antioxidant properties known to protect wine from oxidation. On the other hand, SO2 as a preservative, is often...

Poorly designed stated preference (SP) studies are subject to a number of well-known biases, but many of these biases can be minimized when they are anticipated ex ante and accommodated in the studyfs design or during data analysis. We identify another source of potential bias, which we call...

Quasilinear preferences on a public good and a numeraire good are limits of preferences where both goods are normal. The set of equilibria of the voluntary contribution (or private provision) game is easily characterized under quasilinearity by: top valuators aggregately contribute their common...

Putting the high public debt ratios on a downward path after the surge during the pandemic and allocating sufficient resources to deliver on the green and digital transition will be among the priorities confronting the EU institutions emerging from the June 2024 European elections. After a long...

We study framing effects in repeated social dilemmas by comparing payoff-equivalent Give- and Take-framed public goods games under varying matching mechanisms (Partners or Strangers) and levels of feedback (Aggregate or Individual). In the Give-framed game, players contribute to a public good,...

Public goods games often assume that the effect of the public good is a linear function of the number of contributions. In many cases, however, especially in biology, public goods have nonlinear effects, and nonlinear games are known to have dynamics and equilibria that can differ dramatically...

Within the area of Behavioral game theory, we focus on a specific context, namely, on a game we called the Alternative traveler's dilemma. In this context, we observe that participants tend to choose strictly dominated strategies. In order to explain similar tendencies in other games,...

Based on a survey among more than 5,000 German household heads, this article investigates their willingness to pay (WTP) for avoiding power outages using Contingent-Valuation-Methods (CVM). Alternatively, we ask respondents to estimate the WTP of a hypothetical household. This...