|
|
|
|
|
| Zhao, Jinhua; Kling, Catherine L.. |
| We present a real options model of an agent's decision to purchase or sell a good under conditions of uncertainty, irreversibility, and learning over time. Her WTP and WTA contain both the intrinsic value of the good and an option value associated with delaying the decision until more information is available. Consequently, the standard Hicksian equivalence between WTP/WTA and compen-sating and equivalent variation no longer holds. This helps to explain the WTP/WTA disparity often observed in laboratory experiments and surveys because subjects may have limited learning time and opportunities, thus generating option values. In contrast, the disparity may decrease or disappear entirely in real markets since agents are free to choose when to stop gathering... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Research Methods/ Statistical Methods; D60; D83; C90. |
| Ano: 1998 |
URL: http://purl.umn.edu/18416 |
| |
|
|
| Dickinson, David L.; Bailey, DeeVon. |
| We employed Vickrey auctions to generate willingness-to-pay (WTP) data for red meat traceability and related product characteristics with comparable experimental auctions in the United States, Canada, the U.K., and Japan. The results show that subjects are willing to pay a nontrivial premium for traceability, but the same subjects show even higher WTP for traceability-provided characteristics like additional meat safety and humane animal treatment guarantees. The implication is that producers might be able to implement traceable meat systems profitably by tailoring the verifiable characteristics of the product to consumer preferences. |
| Tipo: Journal Article |
Palavras-chave: Auction experiments; Information; Red meat; Traceability; C90; D44; D80. |
| Ano: 2005 |
URL: http://purl.umn.edu/43480 |
| |
|
|
| Amoros, Joan Mogas; Riera, Pere. |
| RESUMEN: En este trabajo se presenta una comparación entre dos métodos de valoración de preferencias declaradas: la ordenación contingente y el experimento de elección. Se incluye una aplicación empírica en la que se valoran los impactos que una determinada forestación de terrenos agrícolas en Cataluña tendría sobre la función recreativa, de absorción de CO2 y de protección frente a la erosión de los bosques. Los resultados muestran diferencias entre los valores obtenidos a partir de los dos métodos, siendo los del método de elección significativamente mayores. Además, esta divergencia se mantiene cuando se comparan observaciones pairwise obtenidas directamente a través del método de elección con las simulaciones pairwise procedentes de la ordenación... |
| Tipo: Journal Article |
Palavras-chave: Environmental valuation; Contingent ranking; Choice experiment; Afforestation; Environmental Economics and Policy; Q23; C90. |
| Ano: 2001 |
URL: http://purl.umn.edu/28741 |
| |
|
|
| Karlan, Dean S.; McConnell, Margaret. |
| Theories abound for why individuals give to charity. We conduct a field experiment with donors to a Yale University service club to test the impact of a promise of public recognition on giving. Some may claim that they respond to an offer of public recognition not to improve their social standing, but rather to motivate others to give. To tease apart these two theories, we conduct a laboratory experiment with undergraduates, and found no evidence to support the alternative, altruistic motivation. We conclude that charitable gifts increase in response to the promise of public recognition primarily because of individuals' desire to improve their social image. |
| Tipo: Working Paper |
Palavras-chave: Prosocial behavior; Experiments; Voluntary contributions; Financial Economics; Public Economics; D64; C90; L30. |
| Ano: 2012 |
URL: http://purl.umn.edu/121670 |
| |
|
|
| Kovarik, Jaromir; Mengel, Friederike; Romero, Jose Gabriel. |
| We study (anti-) coordination problems in networks in a laboratory experiment. Partici- pants interact with their neighbours in a fixed network to play a bilateral (anti-) coordination game. Our main treatment variable is the extent to which players are heterogeneous in the number of connections (neighbors) they have. Other network characteristics are held constant across treatments. We find the following results. Heterogeneity in the number of connections dramatically improves the rate of successful coordination. In addition, even though there is a multiplicity of Nash equilibria theoretically, a very sharp selection is observed empirically: the most connected player can impose her preferred Nash equilibrium almost always and observed Nash equilibria are... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Game Theory; Networks; Coordination Problems; Experiments; Risk and Uncertainty; C72; C90; C91; D85. |
| Ano: 2010 |
URL: http://purl.umn.edu/61370 |
| |
|
|
| Duke, Charlotte. |
| Experiments in economics and their application to policy design continue to gain increasing popular appeal. Australia is investing in training, capacity building and international partnerships to bring these skills to our policy makers. Economic experiments are used to test policy-related hypotheses: to examine the behavioural processes upon which the policy is built, identify policy bugs, confirm incentive mechanism performance, investigate new decision processes, and illustrate economic allocation systems to stakeholders. Experiments provide a new source of information to improve policy design. This paper explores a set of experiments conducted for the National Action Plan for Salinity and Water Quality Market Based Instruments Pilots Program. The... |
| Tipo: Conference Paper or Presentation |
Palavras-chave: Policy Experiments; Market mechanisms for the environment; Water; Resource /Energy Economics and Policy; Q25; Q28; C90. |
| Ano: 2006 |
URL: http://purl.umn.edu/25369 |
| |
|
|
|
