Year: 2006
Type: report
Abstract: Empirical evidence suggests that people’s maximum willingness to pay for having a good is often substantially lower than their minimum willingness to accept not having it, and that this discrepancy tends to be especially large when valuing public goods. This paper hypothesizes that differences in emotions (e.g. regret) and moral perceptions can account for much of this discrepancy for public goods. A simple, real-money dichotomous-choice\nexperiment is set up to test these hypotheses, which are largely supported.
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
Funders: Naturvårdsverket, Vetenskapsrådet
OpenAlex ID: W1536582438