We add to the analysis conducted in an article in this journal authored by Caporale, Georgellis, Tsitsianis, and Yin (2009) (hereafter CGTY) which assessed the relationship between subjective well-being, income and relative income in Europe. Specifically, we note some data management,...

Scope insensitivity is a popular anomaly in many valuation studies. Although scope insensitivity is a problem that may be present in any valuation method, most previous literature has focused on evaluating scope sensitivity within the context of contingent valuation applications. Nevertheless,...

Literature is replete with examples of hypothetical bias but little is known about the cause of discrepancies. We investigate how consumers’ personalities influence behavior in real and hypothetical choice experiments and auctions. Results show that personality plays a larger role in...