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Self Image And Choice Experiments: Hypothetical And Actual Willingness To Pay

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Author Info
Johansson-Stenman , Olof (Department of Economics, School of Economics and Commercial Law, Göteborg University)
Svedsäter, Henrik () (Department of Psychology, Göteborg University)

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Abstract

This paper proposes that people derive utility from a positive self-image, influenced by ethical views, internal honesty, and consistency between sequential choices. A model is tested by conducting the same choice-experiment for two WWF-campaigns in three different contexts. It predicts that marginal WTP for contributions to these campaigns is highest when choices are hypothetical, lower in a real-money experiment that follows a hypothetical experiment, and lowest when real-money choices are made directly. Additionally, it predicts that marginal WTP decreases with the scale of financial incentives in a real-money experiment. The empirical results are consistent with these hypotheses.

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File URL: http://hdl.handle.net/2077/2822
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Publisher Info
Paper provided by Göteborg University, Department of Economics in its series Working Papers in Economics with number 94.

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Length: 39 pages
Date of creation: 28 Mar 2003
Date of revision:
Handle: RePEc:hhs:gunwpe:0094

Contact details of provider:
Postal: Department of Economics, School of Business, Economics and Law, Göteborg University Box 640, SE 405 30 GÖTEBORG, Sweden
Phone: 031-773 10 00
Web page: http://www.handels.gu.se/econ/
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Related research
Keywords: choice experiment; self-image; hypothetical and real WTP; cognitive dissonance; environmental valuation;

Other versions of this item:

Find related papers by JEL classification:
C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

This paper has been announced in the following NEP Reports:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Roland Bénabou & Jean Tirole, 2002. "Self-Confidence And Personal Motivation," The Quarterly Journal of Economics, MIT Press, vol. 117(3), pages 871-915, August. [Downloadable!] (restricted)
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  4. Johansson-Stenman, Olof & Martinsson, Peter, 2006. "Honestly, why are you driving a BMW?," Journal of Economic Behavior & Organization, Elsevier, vol. 60(2), pages 129-146, June. [Downloadable!] (restricted)
    Other versions:
  5. Boxall, Peter C. & Adamowicz, Wiktor L. & Swait, Joffre & Williams, Michael & Louviere, Jordan, 1996. "A comparison of stated preference methods for environmental valuation," Ecological Economics, Elsevier, vol. 18(3), pages 243-253, September. [Downloadable!] (restricted)
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    Other versions:
  8. Ernst Fehr & Klaus M. Schmidt, 1999. "A Theory Of Fairness, Competition, And Cooperation," The Quarterly Journal of Economics, MIT Press, vol. 114(3), pages 817-868, August. [Downloadable!] (restricted)
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  9. Andreoni, James, 1989. "Giving with Impure Altruism: Applications to Charity and Ricardian Equivalence," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1447-58, December. [Downloadable!] (restricted)
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    Other versions:
  14. Karen Blumenschein & Magnus Johannesson & Glenn C. Blomquist & Bengt Liljas & Richard M. O’Conor, 1998. "Experimental Results on Expressed Certainty and Hypothetical Bias in Contingent Valuation," Southern Economic Journal, Southern Economic Association, vol. 65(1), pages 169-177, July.
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Svensson, Mikael, 2006. "The Value of a Statistical Life in Sweden Estimates from Two Studies using the "Certainty Approach" Calibration," Working Papers 2006:6, Örebro University, Swedish Business School, revised 25 Jul 2007. [Downloadable!]
  2. Carlsson, Fredrik & Frykblom, Peter & Lagerkvist, Carl-Johan, 2004. "Using Cheap-Talk as a Test of Validity in Choice Experiments," Working Papers in Economics 128, Göteborg University, Department of Economics. [Downloadable!]
    Other versions:
  3. Carlsson, Fredrik & Frykblom, Peter & Lagerkvist, Carl Johan, 2004. "Consumer willingness to pay for farm animal welfare - transportation of farm animals to slaughter versus the use of mobile abattoirs," Working Papers in Economics 149, Göteborg University, Department of Economics. [Downloadable!]
  4. Hiselius, Lena Winslott, 2005. "Preferences regarding road transports of hazardous materials using choice experiments - any sign of biases?," Working Papers 2005:30, Lund University, Department of Economics. [Downloadable!]
  5. Johansson-Stenman, Olof & Martinsson, Peter, 2004. "Honestly, why are you driving a BMW?," Working Papers in Economics 141, Göteborg University, Department of Economics. [Downloadable!]
    Other versions:
  6. Harry Telser & Peter Zweifel, 2007. "Validity of discrete-choice experiments evidence for health risk reduction," Applied Economics, Taylor and Francis Journals, vol. 39(1), pages 69-78, January. [Downloadable!] (restricted)
  7. Hiselius, Lena Winslott, 2004. "Using Choice Experiments to Assess Peoples' Preferences for Railway Transports of Hazardous Materials," Working Papers 2004:6, Lund University, Department of Economics.
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