Using a sample of established couples, we conduct an experiment on household decision-making. Individual partners first make a series of dichotomous choices between household goods and vouchers for experiences and then the couple jointly face the same choices. A random lottery device is used to...

We examine the feasibility of using a massively multiplayer online role-playing game (MMORPG) to test economic theories. As a test vehicle we use the well-known hypothesis about the relationship between market experience and the endowment effect. Our results confirm earlier field experiments...

Decision-makers have a wide variety of competing and complementary methods for non-market valuation, but there is little formal advice on the choice of method. I offer a formal approach, using a loss function (the mean square error) to compare contingent valuation, Citizens'Jury and methods...

This paper considers the ways in which information can impact contingent valuation estimates of environmental values. The Hoehn/Randall distinction between value formulation and value statement is employed. We distinguish several ways information should be expected to effect true Willingness to...

This paper considers the ways in which information can impact contingent valuation estimates of environmental values. The Hoehn/Randall distinction between value formulation and value statement is employed. We distinguish several ways information should be expected to effect true Willingness to...