Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/22014 
Kompletter Metadatensatz
DublinCore-FeldWertSprache
dc.contributor.authorTraub, Stefanen
dc.contributor.authorSchmidt, Ulrichen
dc.date.accessioned2009-01-29T14:13:27Z-
dc.date.available2009-01-29T14:13:27Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/22014-
dc.description.abstractIn 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.isoengen
dc.publisher|aKiel University, Department of Economics |cKielen
dc.relation.ispartofseries|aEconomics Working Paper |x2006-09en
dc.subject.jelC91en
dc.subject.jelD81en
dc.subject.ddc330en
dc.subject.keywordWTA-WTP disparityen
dc.subject.keywordlotteriesen
dc.subject.keywordbackground risken
dc.subject.keywordcontingent valuationen
dc.subject.stwWillingness to payen
dc.subject.stwGlücksspielen
dc.subject.stwExperimenten
dc.subject.stwTheorieen
dc.titleAn Experimental Investigation of the Disparity between WTA and WTP for Lotteries-
dc.typeWorking Paperen
dc.identifier.ppn516512986en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:cauewp:4760en

Datei(en):
Datei
Größe
465.26 kB





Publikationen in EconStor sind urheberrechtlich geschützt.