Now showing items 1-5 of 5
Reference-Dependent Valuations of Risk: Why Willingness-to-Accept Exceeds Willingness-to-Pay
(Journal of Risk and Uncertainty, 2011)
The gap between willingness-to-pay (WTP) and willingness-to-accept (WTA) benefit values typifies situations in which reference points — and direction of movement from reference points — are consequential. Why WTA-WTP ...
An Investigation of the Rationality of Consumer Valuations of Multiple Health Risks
(The RAND Journal of Economics, 2012)
After developing a conceptual analysis of consumer valuation of multiple risks, we explore both economic and cognitive hypotheses regarding individual risk-taking. Using a sample of over 1,500 consumers, our study ...
Estimating Discount Rates for Environmental Quality from Utility-Based Choice Experiments
(Journal of Risk and Uncertainty, 2008)
We estimate rates of time preference using a utility-based choice experiment administered to a nationally representative sample of 2,914 respondents. For the full sample, the rate of time preference is very high for ...
Promoting Recycling: Private Values, Social Norms, and Economic Incentives
(American Economic Review, 2011)
Individual behaviors that benefit the environment are potentially influenced by personal values of environmental quality, social norms that encourage proenvironmental actions, and economic incentives. Economic incentives ...
Informational Regulation of Consumer Health Risks: An Empirical Evaluation of Hazard Warnings
(The RAND Journal of Economics, 1986)
On the basis of data from a survey of almost 400 consumers, this article assesses whether consumer behavior is responsive to information about product hazards that is provided in response to regulation. We find that the ...