Discounting future costs and benefits is a crucial yet contentious practice in the appraisal of long-term public projects with environmental consequences. The standard approach typically neglects that ecosystem services are not easily substitutable with manufactured goods and often exhibit...

Using a choice experiment, we test whether taste-based employee discrimination against ethnic minorities is susceptible to loss aversion. In line with empirical evidence from previous research, our results indicate that introducing a hypothetical wage penalty for discriminatory choice behaviour...

This study investigates insurance demand in a two-period model when a decision-maker (DM) is averse to the ambiguity of loss distributions. This study derives sufficient conditions such that the ambiguity-averse DM purchases more insurance than an ambiguity-neutral one when the DM maximises the...

Agroecological food production and commercialization remain a major challenge in West Africa. This research aims to analyse consumers' willingness to pay (WTP) for agroecological tomatoes in Burkina Faso and Benin. For this, twelve Vickrey's second-best price auction sessions involving 360...

To learn about the role of information content and source as catalysts to increase consumers' valuation of fairly traded foods, we conducted an online survey with 2500 consumers representative of the German population. Within the online survey, respondents were randomly assigned to one of five...