Calibration of Willingness-to-Accept

This paper calibrates real and hypothetical willingness-to-accept estimates elicited for consumer goods in a multi-unit, random nth-price auction. Using a within-subject experimental design, we find that people understated their real willingness to accept in the hypothetical regimes, framed both as demand and non-demand revealing. After controlling for personspecific effects, however, hypothetical and real statements are equivalent on the margin.

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Year of publication:	2002
Authors:	List, John A. ; Shogren, Jay
Institutions:	The Field Experiments Website

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Extent:	application/pdf
Series:	Framed Field Experiments.
Type of publication:	Book / Working Paper
Notes:	Published in Journal of Environmental Economics and Management 43 (2): pp. 219-233 Number 54 15 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005432536