Previous studies suggest that two otherwise robust ‘anomalies’ – preference reversals and disparities between buying and selling valuations – are eroded when respondents participate in repeated markets. We report an experiment which investigates whether this is true when factors...

In this paper we study the feasibility of estimating a monetary value for a QALY (MVQ). Using two different surveys of the Spanish population (total n = 892), we consider whether willingness to pay (WTP) is (approximately) proportional to the health gains measured in QALYs. We also explore...

This paper presents an aspiration-satisficing model of consumer search under limited information where no optimal strategy is defined. The model is contrasted with the Hey (1982, 1987) 'bounce rules.' Experimental evidence is presented which, in this environment, lends support for the former...

Ongoing concerns with regard to the appropriate approach to elicitation of willingness-to-pay responses in contingent valuation studies have led to the development of a number of alternative techniques. One of the most recent, and on the surface, most promising of these is the random card...

Previous studies suggest that two otherwise robust ‘anomalies’ – preference reversals and disparities between buying and selling valuations – are eroded when respondents participate in repeated markets. We report an experiment which investigates whether this is true when factors...

Previous studies suggest that two otherwise robust ‘anomalies’ – preference reversals and disparities between buying and selling valuations – are eroded when respondents participate in repeated markets. We report an experiment which investigates whether this is true when factors...