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Self-Image and Hypothetical Bias in Willingness to Pay Elicitation : The Case of a Private Good
Heinicke, Franziska - 2019
experiments. One explanation for this hypothetical bias which has been put forward is that participants use high willingness …
Persistent link: https://www.econbiz.de/10012898702
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Illusion of expertise in portfolio decisions : an experimental approach
Fellner, Gerlinde; Güth, Werner; Maciejovsky, Boris - 2001
Overall, 72 subjects invest their endowment in four risky assets. Each com-bination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers nevertheless the self-selected portfolio. After being randomly assigned to groups of four...
Persistent link: https://www.econbiz.de/10011408429
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Can willingness-to-pay values be manipulated? : evidence from an experiment on organic food in China
Yu, Xiaohua; Yan, Binjian; Gao, Zhifeng - 2014
willingness to pay (WTP) are sensitive to time pressure and cognitive load levels in practice. An experiment with 233 students is …
Persistent link: https://www.econbiz.de/10010357015
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Measuring the willingness-to-pay for others’ consumption : an application to joint decisions of children
Bruyneel, Sabrina; Cherchye, Laurens; Cosaert, Sam; … - In: Quantitative economics : QE ; journal of the … 8 (2017) 3, pp. 1037-1082
We propose a method to quantify other-regarding preferences in group decisions. Our method is based on revealed preference theory. It measures willingness-to- pay for others’ consumption and willingness-to-pay for equality in consumption by evaluating consumption externalities in monetary...
Persistent link: https://www.econbiz.de/10011801805
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Field Experiments on Anchoring of Economic Valuations
Alevy, Jonathan E.; Landry, Craig E.; List, John A. - 2011
"anchoring" phenomenon in the field. The first experiment produces evidence that inexperienced consumers can be anchored in the … experiment finds that anchors have only transient effects on prices and quantities traded: aggregate market outcomes converge to …
Persistent link: https://www.econbiz.de/10014182869
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Search, Memory, and Choice : An Experiment
Sanjurjo, Adam - 2014
choice, more generally, an experiment is conducted. In each task, subjects are made to search the same information in one of …
Persistent link: https://www.econbiz.de/10014143757
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Click'n'roll : no evidence of illusion of control
Filippin, Antonio; Crosetto, Paolo - 2015
Evidence of Illusion of Control - the fact that people believe to have control over pure chance events - is a recurrent finding in experimental psychology. Results in economics find instead little to no support. In this paper we test whether this dissonant result across disciplines is due to the...
Persistent link: https://www.econbiz.de/10010517137
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The endowment effect in games
Drouvelis, Michalis; Sonnemans, Joep - 2015
experiment, we study the endowment effect in lotteries with the same payoffs as the games in the first part. Our findings provide …
Persistent link: https://www.econbiz.de/10011339153
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Randomizing endowments : an experimental study of rational expectations and reference-dependent preferences
Götte, Lorenz; Harms, Annette; Sprenger, Charles - 2014
expectations. We examine the predictions of Kőszegi and Rabin (2006) in the context of market experiments with probabilistic forced … exchange. The experiment tightly tests the predictions of Kőszegi and Rabin (2006), as when the probability of forced exchange … these theoretical predictions. In a series of experiments with a total of 930 subjects, sellers' valuations exceed buyers …
Persistent link: https://www.econbiz.de/10010436164
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Measuring the willingness to pay to avoid guilt : estimation using equilibrium and stated belief models
Bellemare, Charles; Sebald, Alexander; Strobel, Martin - 2010
controlling for a possible source of a consensus effect. All models are estimated using data from an experiment of proposal and …
Persistent link: https://www.econbiz.de/10003941997