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dc.contributor.authorBellemare, Charlesen
dc.contributor.authorSebald, Alexanderen
dc.contributor.authorStrobel, Martinen
dc.date.accessioned2010-03-17-
dc.date.accessioned2010-07-07T12:03:43Z-
dc.date.available2010-07-07T12:03:43Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/35879-
dc.description.abstractWe estimate structural models of guilt aversion to measure the population level of willingness to pay (WTP) to avoid feeling guilt by letting down another player. We compare estimates of WTP under the assumption that higher-order beliefs are in equilibrium (i.e. consistent with the choice distribution) with models estimated using stated beliefs which relax the equilibrium requirement. We estimate WTP in the later case by allowing stated beliefs to be correlated with guilt aversion, thus controlling for a possible source of a consensus effect. All models are estimated using data from an experiment of proposal and response conducted with a large and representative sample of the Dutch population. Our range of estimates suggests that responders are willing to pay between 0.40 and 0.80 Euro to avoid letting down proposers by 1 Euro. Furthermore, we find that WTP estimated using stated beliefs is substantially overestimated (by a factor of two) when correlation between preferences and beliefs is not controlled for. Finally, we find no evidence that WTP is significantly related to the observable socio-economic characteristics of players.en
dc.language.isoengen
dc.publisher|aInstitute for the Study of Labor (IZA) |cBonnen
dc.relation.ispartofseries|aIZA Discussion Papers |x4803en
dc.subject.jelC93en
dc.subject.jelD63en
dc.subject.jelD84en
dc.subject.ddc330en
dc.subject.keywordGuilt aversionen
dc.subject.keywordwillingness to payen
dc.subject.keywordequilibrium and stated beliefs modelsen
dc.subject.stwSoziale Beziehungenen
dc.subject.stwWillingness to payen
dc.subject.stwTesten
dc.titleMeasuring the willingness to pay to avoid guilt: estimation using equilibrium and stated belief models-
dc.type|aWorking Paperen
dc.identifier.ppn621225657en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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