Full metadata record
DC Field | Value | Language |
---|---|---|
dc.contributor.author | Andor, Mark A. | - |
dc.contributor.author | Frondel, Manuel | - |
dc.contributor.author | Vance, Colin | - |
dc.date.accessioned | 2015-04-29T10:40:51Z | - |
dc.date.available | 2015-04-29T10:40:51Z | - |
dc.date.issued | 2015 | - |
dc.identifier.uri | http://hdl.handle.net/2003/34071 | - |
dc.identifier.uri | http://dx.doi.org/10.17877/DE290R-7506 | - |
dc.description.abstract | 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. | en |
dc.language.iso | en | de |
dc.relation.ispartofseries | Discussion Paper / SFB 823;11/2015 | en |
dc.subject | willingness-to-pay | en |
dc.subject | certainty approach | en |
dc.subject | cheap talk | en |
dc.subject.ddc | 310 | - |
dc.subject.ddc | 330 | - |
dc.subject.ddc | 620 | - |
dc.title | Mitigating hypothetical bias | en |
dc.title.alternative | Evidence on the effects of correctives from a large field study | en |
dc.type | Text | de |
dc.type.publicationtype | workingPaper | de |
dcterms.accessRights | open access | - |
Appears in Collections: | Sonderforschungsbereich (SFB) 823 |
Files in This Item:
File | Description | Size | Format | |
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DP_1115_SFB823_Andor_Frondel_Vance.pdf | DNB | 212.68 kB | Adobe PDF | View/Open |
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