Autor(en): | Andor, Mark A. Frondel, Manuel Vance, Colin |
Titel: | Mitigating hypothetical bias |
Sonstige Titel: | Evidence on the effects of correctives from a large field study |
Sprache (ISO): | en |
Zusammenfassung: | The overestimation of willingness-to-pay (WTP) in hypothetical responses is a well-known finding in the literature. Various techniques have been proposed to remove or, at least, reduce this bias. Using about 30,000 responses on WTP for a variety of power mixes from a panel of 6,500 German households and the fixed-effects estimator to control for unobserved heterogeneity, this article simultaneously explores the effects of two common ex-ante approaches – cheap talk and consequential script – and the ex-post certainty approach to calibrating hypothetical WTP responses. Based on a switching regression model that accounts for the potential endogeneity of respondent certainty, we find evidence for a lower WTP among those respondents who classify themselves as definitely certain about their answers. Although neither cheap talk nor the consequential-script corrective reduce WTP estimates, receiving either of these scripts increases the probability that respondents indicate definite certainty about their WTP bids. |
Schlagwörter: | willingness-to-pay certainty approach cheap talk |
URI: | http://hdl.handle.net/2003/34071 http://dx.doi.org/10.17877/DE290R-7506 |
Erscheinungsdatum: | 2015 |
Enthalten in den Sammlungen: | Sonderforschungsbereich (SFB) 823 |
Dateien zu dieser Ressource:
Datei | Beschreibung | Größe | Format | |
---|---|---|---|---|
DP_1115_SFB823_Andor_Frondel_Vance.pdf | DNB | 212.68 kB | Adobe PDF | Öffnen/Anzeigen |
Diese Ressource ist urheberrechtlich geschützt. |
Diese Ressource ist urheberrechtlich geschützt.
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