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The WTA-WTP Gap and Welfare Measures for Public Goods
Graves, Philip E. - 2014
A robust finding in experimental economics is that decision-makers often exhibit a much smaller dollar willingness to pay (WTP) for an item than the minimum amount that they claim to be willing to accept (WTA) to part with it. The spread between these two numbers is particularly large for public...
Persistent link: https://www.econbiz.de/10014204141
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The Simple Analytics of the WTA-WTP Disparity for Public Goods
Graves, Philip E. - 2014
A robust finding in economics is that decision-makers often exhibit a much smaller dollar willingness to pay (WTP) for an item than the minimum amount that they claim to be willing to accept (WTA) to part with it. The spread between these two numbers is particularly large for public goods,...
Persistent link: https://www.econbiz.de/10012708391
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Chapter 17 Contingent Valuation
Carson, Richard T.; Hanemann, W. Michael - In: Handbook of environmental economics : volume 2, Valuing …, (pp. 821-936). 2005
Value estimates for environmental goods can be obtained by either estimating preference parameters as revealed through behavior related to some aspect of the amenity or using stated information concerning preferences for the good. In the environmental economics literature the stated preference...
Persistent link: https://www.econbiz.de/10014023922
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Self-Image and Hypothetical Bias in Willingness to Pay Elicitation : The Case of a Private Good
Heinicke, Franziska - 2019
consumer research. In the resulting theory people enhance their self-image by showing support for a desired product image. The …
Persistent link: https://www.econbiz.de/10012898702
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A Hybrid Public Good Experiment Eliciting Multi-Dimensional Choice Data
Di Cagno, Daniela - 2015
contributing to a public good. In the Hybrid Public Good experiment each of two interacting contributors chooses an independent …
Persistent link: https://www.econbiz.de/10013022017
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Why Do People Non-Demand Reveal in Hypothetical Double Referenda for Public Goods?
Burton, Anthony - 2013
Hypothetical contingent valuation surveys used to elicit values for environmental and other public goods often employ variants of the referendum mechanism due to the cognitive simplicity and familiarity of respondents with this voting format. One variant, the double referendum mechanism,...
Persistent link: https://www.econbiz.de/10013076300
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Competitive politics, simplified heuristics, and preferences for public goods
Schläpfer, Felix; Schmitt, Marcel; Roschewitz, Annette - 2007
-survey experiment to investigate how knowledge of party positions affects policy choices. We followed standard procedures in developing … an attribute-based choice experiment on alternative land-use policies in Switzerland. In contrast to the usual … ; choice experiment ; contingent valuation ; landscape ; heuristics ; information ; preference formation ; public goods …
Persistent link: https://www.econbiz.de/10003892449
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Revisiting the impact of contract nonperformance risk on individuals' willingness to pay - Experimental evidence
Hillebrandt, Marc-Andre - 2021
’ willingness to pay (WTP) for insurance contracts. In an incentive-compatible laboratory experiment, subjects state their maximum …
Persistent link: https://www.econbiz.de/10013218589
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A Note on the Valuation of Collective Goods : Overlooked Input Market Free Riding for Non-Individually Incrementable Goods
Graves, Philip E. - 2010
For at least fifty years economists have argued that vertically-aggregated marginal willingness to pay, when set equal to marginal provision cost, will result in optimal public good provision levels. This methodological approach would be expected to yield an exact analog, in terms of optimal...
Persistent link: https://www.econbiz.de/10014218919
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Measuring the Market Value of Non-Market Goods : The Case of Conspicuous Consumption
Perez-Truglia, Ricardo - 2012
Although non-market goods are not directly allocated through markets, some of these goods are allocated through markets in an indirect fashion. Such is the case with conspicuous consumption: people buy market goods (e.g., clothing) to signal their wealth and then increase the probability of...
Persistent link: https://www.econbiz.de/10014188971