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Calibration of Willingness-to-Accept

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  • List, John A.
  • Shogren, Jason F.

Abstract

This paper calibrates real and hypothetical willingness-to-accept estimates elicited for consumer goods in a multi-unit, random nth-price auction. Using a within-subject experimental design, we find that people understated their real willingness to accept in the hypothetical regimes, framed both as demand and non-demand revealing. After controlling for personspecific effects, however, hypothetical and real statements are equivalent on the margin.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 43 (2002)
Issue (Month): 2 (March)
Pages: 219-233

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Handle: RePEc:eee:jeeman:v:43:y:2002:i:2:p:219-233

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Web page: http://www.elsevier.com/locate/inca/622870

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References

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