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dc.contributor.authorTrautmann, Stefan T.en_US
dc.contributor.authorSchmidt, Ulrichen_US
dc.date.accessioned2011-09-02en_US
dc.date.accessioned2011-09-09T12:46:32Z-
dc.date.available2011-09-09T12:46:32Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/49380-
dc.description.abstractThere is a large literature showing that willingness-to-accept (WTA) is usually much higher than willingness-to-pay (WTP) in empirical studies although they should be roughly equal according to traditional economic theory. A second stream of literature shows that people are typically ambiguity averse, i.e. they prefer lotteries with known probabilities over lotteries with unknown ones. Our study combines both streams of literature and analyzes whether there is an interaction between the WTP-WTA disparity and ambiguity aversion.en_US
dc.language.isoengen_US
dc.publisherKiel Institute for the World Economy (IfW) Kielen_US
dc.relation.ispartofseriesKiel Working Papers 1727en_US
dc.subject.jelC91en_US
dc.subject.jelD81en_US
dc.subject.ddc330en_US
dc.subject.keywordWTP-WTA disparityen_US
dc.subject.keywordambiguity aversionen_US
dc.subject.keywordcomparative ignoranceen_US
dc.subject.stwWillingness to payen_US
dc.subject.stwEntscheidung bei Unsicherheiten_US
dc.subject.stwRisikoaversionen_US
dc.subject.stwProspect Theoryen_US
dc.subject.stwTesten_US
dc.titlePricing risk and ambiguity: The effect of perspective takingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn667628312en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Publikationen von Forscherinnen und Forschern des IfW
Kieler Arbeitspapiere, IfW

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