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There is a large literature showing that willingness-to-accept (WTA) is usually much higher than willingness-to-pay (WTP) in empirical studies although they should be roughly equal according to traditional economic theory. A second stream of literature shows that people are typically ambiguity...
Persistent link: https://www.econbiz.de/10010285717
There is a large literature showing that willingness-to-accept (WTA) is usually much higher than willingness-to-pay (WTP) in empirical studies although they should be roughly equal according to traditional economic theory. A second stream of literature shows that people are typically ambiguity...
Persistent link: https://www.econbiz.de/10009276732
This paper presents an experimental study analyzing common consequence effects with binary choice, willingness-to-pay (WTP), and willingness-to-accept (WTA). Consistent with previous research we do not find clearcut evidence of fanning out in the absence of certainty effects. Violation rates of...
Persistent link: https://www.econbiz.de/10008631612
This paper presents an experimental study analyzing common consequence effects with binary choice, willingness-to-pay (WTP), and willingness-to-accept (WTA). Consistent with previous research we do not find clearcut evidence of fanning out in the absence of certainty effects. Violation rates of...
Persistent link: https://www.econbiz.de/10003950279
Persistent link: https://www.econbiz.de/10010344883
There is a large literature showing that willingness-to-accept (WTA) is usually much higher than willingness-to-pay (WTP) in empirical studies although they should be roughly equal according to traditional economic theory. A second stream of literature shows that people are typically ambiguity...
Persistent link: https://www.econbiz.de/10009269976
Persistent link: https://www.econbiz.de/10003948990
Persistent link: https://www.econbiz.de/10003908411
Persistent link: https://www.econbiz.de/10012133624
In this article, we discuss concepts of procedural fairness and equality of opportunity, and review the descriptive evidence regarding such procedural fairness preferences and their dynamic consistency. We then review the empirical relationship between equality of opportunity and preferences for...
Persistent link: https://www.econbiz.de/10015189930