EXPECTED UTILITY AND THE ENDOWMENTEFFECT: SOME EXPERIMENTAL RESULTS

Internal inconsistencies are so commonplace in studies using the contingent valuation method(CVM) that it has been argued that that method should be abandoned as a means of preferenceelicitation in favour of other methods such as standard gambles (SG). The experiment described inthis paper finds that an anomaly that is well documented in the CVM literature, the endowmenteffect, is also present in SG...

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Year of publication:	2000-10-01
Authors:	Morrison, Gwendolyn C.
Institutions:	University <Nottingham> / Department of Economics
Subject:	Spieltheorie \| game theory \| Begabung \| returns to skills \| Erwarteter Nutzen \| Expected Utility \| Stützpunkt <Mathematik> \| Reference Points

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Extent:	77824 bytes 17 p. application/pdf
Series:	The University of Nottingham / School of Economics - discussion papers Discussion Paper ; No. 00/20
Type of publication:	Book / Working Paper
Language:	English
ISSN:	1360-2438
Classification:	C9 - Design of Experiments ; D1 - Household Behavior and Family Economics ; D8 - Information and Uncertainty ; Market research ; Study of commerce ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005869086