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Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Traub, Stefan | en |
dc.contributor.author | Schmidt, Ulrich | en |
dc.date.accessioned | 2009-01-29T14:13:27Z | - |
dc.date.available | 2009-01-29T14:13:27Z | - |
dc.date.issued | 2006 | - |
dc.identifier.uri | http://hdl.handle.net/10419/22014 | - |
dc.description.abstract | In this paper we experimentally investigate the disparity between willingness-to-accept (WTA) and willingness-to-pay (WTP) for risky lotteries. The direction of the income effect is reversed by endowing subjects with the highest price of a lottery when asking the WTP question. Our results show that the income effect is too small to be the only source of the disparity. Since the disparity concentrates on a subsample of subjects, parametric and nonparametric tests of the WTA-WTP ratio may lead to contradictory results. The disparity is significantly reduced when background risk is introduced. That is, putting subjects always into a risky position could improve the contingent valuation method which is often concerned with the assessment of risky situations such as health risks, automobile safety, etc. | en |
dc.language.iso | eng | en |
dc.publisher | |aKiel University, Department of Economics |cKiel | en |
dc.relation.ispartofseries | |aEconomics Working Paper |x2006-09 | en |
dc.subject.jel | C91 | en |
dc.subject.jel | D81 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | WTA-WTP disparity | en |
dc.subject.keyword | lotteries | en |
dc.subject.keyword | background risk | en |
dc.subject.keyword | contingent valuation | en |
dc.subject.stw | Willingness to pay | en |
dc.subject.stw | Glücksspiel | en |
dc.subject.stw | Experiment | en |
dc.subject.stw | Theorie | en |
dc.title | An Experimental Investigation of the Disparity between WTA and WTP for Lotteries | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 516512986 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:zbw:cauewp:4760 | en |
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