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Status Quo Effect in Choice Experiments: Empirical Evidence on Attitudes and Choice Task Complexity

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  1. Maria Espinosa‐Goded & Jesús Barreiro‐Hurlé & Eric Ruto, 2010. "What Do Farmers Want From Agri‐Environmental Scheme Design? A Choice Experiment Approach," Journal of Agricultural Economics, Wiley Blackwell, vol. 61(2), pages 259-273, June.
  2. Filiptseva, Anna & Filler, Günther & Odening, Martin, 2022. "Compensation Options for Quarantine Costs in Plant Production," 62nd Annual Conference, Stuttgart, Germany, September 7-9, 2022 329595, German Association of Agricultural Economists (GEWISOLA).
  3. Ole Bonnichsen & Jacob Ladenburg, 2010. "Reducing Status Quo Bias in Choice Experiments – An Application of a Protest Reduction Entreaty," IFRO Working Paper 2010/7, University of Copenhagen, Department of Food and Resource Economics.
  4. Giles Atkinson & Sian Morse-Jones & Susana Mourato & Allan Provins, 2012. "‘When to Take “No” for an Answer’? Using Entreaties to Reduce Protests in Contingent Valuation Studies," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 51(4), pages 497-523, April.
  5. Julia Bronnmann & Veronika Liebelt & Fabian Marder & Jasper Meya & Martin Quaas, 2023. "The Value of Naturalness of Urban Green Spaces: Evidence from a Discrete Choice Experiment," Land Economics, University of Wisconsin Press, vol. 99(4), pages 528-542.
  6. Scott, Anthony & Witt, Julia, 2020. "Loss aversion, reference dependence and diminishing sensitivity in choice experiments," Journal of choice modelling, Elsevier, vol. 37(C).
  7. Otrachshenko, Vladimir & Tyurina, Elena & Nagapetyan, Artur, 2022. "The economic value of the Glass Beach: Contingent valuation and life satisfaction approaches," Ecological Economics, Elsevier, vol. 198(C).
  8. Miller, Sini & Tait, Peter & Saunders, Caroline, 2013. "Scarcity Of Canterbury’s Water: Its Multiple, Conflicting Uses," 2013 Conference, August 28-30, 2013, Christchurch, New Zealand 160269, New Zealand Agricultural and Resource Economics Society.
  9. Oehlmann, Malte & Weller, Priska & Meyerhoff, Jürgen, 2014. "Complexity-induced Status Quo Effects in Discrete Choice Experiments for Environmental Valutation," VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy 100616, Verein für Socialpolitik / German Economic Association.
  10. Danny Campbell & Seda Erdem, 2019. "Including Opt-Out Options in Discrete Choice Experiments: Issues to Consider," The Patient: Patient-Centered Outcomes Research, Springer;International Academy of Health Preference Research, vol. 12(1), pages 1-14, February.
  11. Lindhjem, Henrik & Navrud, Ståle, 2011. "Using Internet in Stated Preference Surveys: A Review and Comparison of Survey Modes," International Review of Environmental and Resource Economics, now publishers, vol. 5(4), pages 309-351, September.
  12. Rakotonarivo, O. Sarobidy & Bredahl Jacobsen, Jette & Poudyal, Mahesh & Rasoamanana, Alexandra & Hockley, Neal, 2018. "Estimating welfare impacts where property rights are contested: methodological and policy implications," Land Use Policy, Elsevier, vol. 70(C), pages 71-83.
  13. Tavárez, Héctor & Elbakidze, Levan, 2019. "Valuing recreational enhancements in the San Patricio Urban Forest of Puerto Rico: A choice experiment approach," Forest Policy and Economics, Elsevier, vol. 109(C).
  14. Haghani, Milad & Bliemer, Michiel C.J. & Rose, John M. & Oppewal, Harmen & Lancsar, Emily, 2021. "Hypothetical bias in stated choice experiments: Part II. Conceptualisation of external validity, sources and explanations of bias and effectiveness of mitigation methods," Journal of choice modelling, Elsevier, vol. 41(C).
  15. Joalland, Olivier & Mahieu, Pierre-Alexandre, 2023. "Developing large-scale offshore wind power programs: A choice experiment analysis in France," Ecological Economics, Elsevier, vol. 204(PA).
  16. Bruno Lanz & Allan Provins, 2015. "Using discrete choice experiments to regulate the provision of water services: do status quo choices reflect preferences?," Journal of Regulatory Economics, Springer, vol. 47(3), pages 300-324, June.
  17. Qianfeng Luo & Pengfei Liu & Zhi Li, 2023. "The influence of African swine fever information on consumers’ preference of pork attributes and pork purchase," Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie, Canadian Agricultural Economics Society/Societe canadienne d'agroeconomie, vol. 71(1), pages 49-68, March.
  18. Barr, Rhona F. & Mourato, Susana, 2014. "Investigating fishers' preferences for the design of marine Payments for Environmental Services schemes," Ecological Economics, Elsevier, vol. 108(C), pages 91-103.
  19. Niskanen, Olli & Tienhaara, Annika & Haltia, Emmi & Pouta, Eija, 2021. "Farmers’ heterogeneous preferences towards results-based environmental policies," Land Use Policy, Elsevier, vol. 102(C).
  20. Rid, Wolfgang & Haider, Wolfgang & Ryffel, Andrea & Beardmore, Ben, 2018. "Visualisations in Choice Experiments: Comparing 3D Film-sequences and Still-images to Analyse Housing Development Alternatives," Ecological Economics, Elsevier, vol. 146(C), pages 203-217.
  21. Moore, Rebecca, 2013. "Prioritizing Ecosystem Service Protection and Conservation Efforts in the Forest Plantations of the Red Hills," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 42(1), pages 1-26, April.
  22. Ladenburg, Jacob & Olsen, Søren Bøye, 2014. "Augmenting short Cheap Talk scripts with a repeated Opt-Out Reminder in Choice Experiment surveys," Resource and Energy Economics, Elsevier, vol. 37(C), pages 39-63.
  23. Kyriaki Remoundou & Fikret Adaman & Phoebe Koundouri & Paulo Nunes, 2014. "Is the value of environmental goods sensitive to the public funding scheme? Evidence from a marine restoration programme in the Black Sea," Empirical Economics, Springer, vol. 47(4), pages 1173-1192, December.
  24. Kyriaki Remoundou & Fikret Adaman & Phoebe Koundouri & Paulo Nunes, 2013. "Is the Value of Environmental Goods Sensitive to the Source of Public Funding? Evidence from a Marine Restoration Programme in the Black Sea," DEOS Working Papers 1321, Athens University of Economics and Business.
  25. Bauer, Dana & Liu, Pengfei & Swallow, Stephen K. & Johnston, Robert J., 2013. "Do Exurban Communities Want More Development?," Working Papers 25, University of Connecticut, Department of Agricultural and Resource Economics, Charles J. Zwick Center for Food and Resource Policy.
  26. Zhenshan Chen & Stephen K. Swallow & Ian T. Yue, 2020. "Non-participation and Heterogeneity in Stated: A Double Hurdle Latent Class Approach for Climate Change Adaptation Plans and Ecosystem Services," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 77(1), pages 35-67, September.
  27. Brown, Zachary S. & Dickinson, Katherine L. & Paskewitz, Susan, 2015. "A generalized latent class logit model of discontinuous preferences in repeated discrete choice data: an application to mosquito control in Madison, Wisconsin," 2015 AAEA & WAEA Joint Annual Meeting, July 26-28, San Francisco, California 205613, Agricultural and Applied Economics Association.
  28. Galina Williams, 2015. "Households Willingness to Pay for the Emissions Reduction Policy, Queensland, Australia," SAGE Open, , vol. 5(3), pages 21582440156, September.
  29. Sandorf, Erlend Dancke & Persson, Lars & Broberg, Thomas, 2020. "Using an integrated choice and latent variable model to understand the impact of “professional” respondents in a stated preference survey," Resource and Energy Economics, Elsevier, vol. 61(C).
  30. Parron, Lucilia Maria & Villanueva, Anastasio Jose & Glenk, Klaus, 2022. "Estimating the value of ecosystem services in agricultural landscapes amid intensification pressures: The Brazilian case," Ecosystem Services, Elsevier, vol. 57(C).
  31. Thiene, Mara & Meyerhoff, Jürgen & De Salvo, Maria, 2012. "Scale and taste heterogeneity for forest biodiversity: Models of serial nonparticipation and their effects," Journal of Forest Economics, Elsevier, vol. 18(4), pages 355-369.
  32. Dominic Bergers, 2021. "Individual differences in the susceptibility of biases relevant in price management: a state-of-the-art article," Journal of Revenue and Pricing Management, Palgrave Macmillan, vol. 20(4), pages 497-528, August.
  33. Jana Poláková & Josef Soukup, 2020. "Results of Implementing Less-Favoured Area Subsidies in the 2014–2020 Time Frame: Are the Measures of Environmental Concern Complementary?," Sustainability, MDPI, vol. 12(24), pages 1-16, December.
  34. Elsasser, Peter & Meyerhoff, Jürgen & Weller, Priska, 2016. "An updated bibliography and database on forest ecosystem service valuation studies in Austria, Germany and Switzerland," Thünen Working Papers 65, Johann Heinrich von Thünen Institute, Federal Research Institute for Rural Areas, Forestry and Fisheries.
  35. Dale Whittington & Vic Adamowicz, 2010. "The Use of Hypothetical Baselines in Stated Preference Surveys," EEPSEA Special and Technical Paper sp201009s1, Economy and Environment Program for Southeast Asia (EEPSEA), revised Sep 2010.
  36. Villamayor-Tomas, Sergio & Sagebiel, Julian & Olschewski, Roland, 2019. "Bringing the neighbors in: A choice experiment on the influence of coordination and social norms on farmers’ willingness to accept agro-environmental schemes across Europe," Land Use Policy, Elsevier, vol. 84(C), pages 200-215.
  37. Weng, Weizhe & Morrison, Mark & Boyle, Kevin & Boxall, Peter, 2017. "The effect of the number of alternatives in a choice experiment with an application to the Macquarie Marshes, AU," 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama 252836, Southern Agricultural Economics Association.
  38. Thijs Dekker & Paul Koster & Roy Brouwer, 2014. "Changing with the Tide: Semiparametric Estimation of Preference Dynamics," Land Economics, University of Wisconsin Press, vol. 90(4), pages 717-745.
  39. Vega, Amaya & Feo-Valero, Maria & Espino-Espino, Raquel, 2021. "Understanding maritime transport route choice among Irish exporters: A latent class approach," Research in Transportation Economics, Elsevier, vol. 90(C).
  40. Milad Haghani & Michiel C. J. Bliemer & John M. Rose & Harmen Oppewal & Emily Lancsar, 2021. "Hypothetical bias in stated choice experiments: Part II. Macro-scale analysis of literature and effectiveness of bias mitigation methods," Papers 2102.02945, arXiv.org.
  41. Grebitus, Carola & Jensen, Helen H. & Roosen, Jutta, 2013. "US and German consumer preferences for ground beef packaged under a modified atmosphere – Different regulations, different behaviour?," Food Policy, Elsevier, vol. 40(C), pages 109-118.
  42. Dan Marsh & Lena Mkwara & Riccardo Scarpa, 2011. "Do Respondents’ Perceptions of the Status Quo Matter in Non-Market Valuation with Choice Experiments? An Application to New Zealand Freshwater Streams," Sustainability, MDPI, vol. 3(9), pages 1-23, September.
  43. Valentino Dardanone & Carla Guerriero, 2019. "Children's Willingness to Pay for Environmental Protection," CSEF Working Papers 550, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
  44. Rewitzer, Susanne & Huber, Robert & Grêt-Regamey, Adrienne & Barkmann, Jan, 2017. "Economic valuation of cultural ecosystem service changes to a landscape in the Swiss Alps," Ecosystem Services, Elsevier, vol. 26(PA), pages 197-208.
  45. Börger, Tobias & Ngoc, Quach Thi Khanh & Kuhfuss, Laure & Hien, Tang Thi & Hanley, Nick & Campbell, Danny, 2021. "Preferences for coastal and marine conservation in Vietnam: Accounting for differences in individual choice set formation," Ecological Economics, Elsevier, vol. 180(C).
  46. Dardanoni, Valentino & Guerriero, Carla, 2021. "Young people' s willingness to pay for environmental protection," Ecological Economics, Elsevier, vol. 179(C).
  47. Christensen, Tove & Pedersen, Anders Branth & Nielsen, Helle Oersted & Mørkbak, Morten Raun & Hasler, Berit & Denver, Sigrid, 2011. "Determinants of farmers' willingness to participate in subsidy schemes for pesticide-free buffer zones--A choice experiment study," Ecological Economics, Elsevier, vol. 70(8), pages 1558-1564, June.
  48. Jensen Jørgen Dejgaard & Mørkbak Morten Raun & Nordström Jonas, 2012. "Economic Costs and Benefits of Promoting Healthy Takeaway Meals at Workplace Canteens," Journal of Benefit-Cost Analysis, De Gruyter, vol. 3(4), pages 1-29, December.
  49. Elsa Varela & Zein Kallas, 2022. "Societal preferences for the conservation of traditional pig breeds and their agroecosystems: Addressing preference heterogeneity and protest responses through deterministic allocation and scale‐exten," Journal of Agricultural Economics, Wiley Blackwell, vol. 73(3), pages 761-788, September.
  50. Barreiro-Hurle, Jesus & Espinosa-Goded, Maria & Martinez-Paz, Jose Miguel & Perni, Angel, 2018. "Choosing not to choose: A meta-analysis of status quo effects in environmental valuations using choice experiments," Economia Agraria y Recursos Naturales, Spanish Association of Agricultural Economists, vol. 18(01), June.
  51. Suziana Hassan & Søren Bøye Olsen & Bo Jellesmark Thorsen, 2018. "Appropriate Payment Vehicles in Stated Preference Studies in Developing Economies," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 71(4), pages 1053-1075, December.
  52. Glenk, Klaus & Hall, Clare & Liebe, Ulf & Meyerhoff, Jürgen, 2012. "Preferences of Scotch malt whisky consumers for changes in pesticide use and origin of barley," Food Policy, Elsevier, vol. 37(6), pages 719-731.
  53. Wan Norhidayah W Mohamad & Ken Willis & Neil Powe, 2019. "The Status Quo In Discrete Choice Experiments: Is It Relevant?," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 65(02), pages 507-532, March.
  54. Dalemans, Floris & Muys, Bart & Verwimp, Anne & Van den Broeck, Goedele & Bohra, Babita & Sharma, Navin & Gowda, Balakrishna & Tollens, Eric & Maertens, Miet, 2018. "Redesigning oilseed tree biofuel systems in India," Energy Policy, Elsevier, vol. 115(C), pages 631-643.
  55. Ponce Oliva, Roberto D. & Vasquez-Lavín, Felipe & San Martin, Valeska A. & Hernández, José Ignacio & Vargas, Cristian A. & Gonzalez, Pablo S. & Gelcich, Stefan, 2019. "Ocean Acidification, Consumers' Preferences, and Market Adaptation Strategies in the Mussel Aquaculture Industry," Ecological Economics, Elsevier, vol. 158(C), pages 42-50.
  56. Weng, Weizhe & Morrison, Mark & Boyle, Kevin J. & Boxall, Peter C., 2017. "The effect of the number of alternatives in choice experiment questions," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 259179, Agricultural and Applied Economics Association.
  57. Stephane Hess & Andrew Daly & Richard Batley, 2018. "Revisiting consistency with random utility maximisation: theory and implications for practical work," Theory and Decision, Springer, vol. 84(2), pages 181-204, March.
  58. Breeze, T.D. & Bailey, A.P. & Potts, S.G. & Balcombe, K.G., 2015. "A stated preference valuation of the non-market benefits of pollination services in the UK," Ecological Economics, Elsevier, vol. 111(C), pages 76-85.
  59. Remoundou, Kyriaki & Kountouris, Yiannis & Koundouri, Phoebe, 2012. "Is the value of an environmental public good sensitive to the providing institution?," Resource and Energy Economics, Elsevier, vol. 34(3), pages 381-395.
  60. Meressa, Abrha Megos & Navrud, Stale, 2020. "Not my cup of coffee: Farmers’ preferences for coffee variety traits – Lessons for crop breeding in the age of climate change," Bio-based and Applied Economics Journal, Italian Association of Agricultural and Applied Economics (AIEAA), vol. 9(3), December.
  61. Daniel R. Petrolia & Matthew G. Interis & Joonghyun Hwang, 2018. "Single-Choice, Repeated-Choice, and Best-Worst Scaling Elicitation Formats: Do Results Differ and by How Much?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 69(2), pages 365-393, February.
  62. Bruno Lanz & Allan Provins, 2012. "Do status quo choices reflect preferences? Evidence from a discrete choice experiment in the context of water utilities' investment planning," CEPE Working paper series 12-87, CEPE Center for Energy Policy and Economics, ETH Zurich.
  63. Murwirapachena, Genius & Dikgang, Johane, 2018. "An empirical examination of reducing status quo bias in heterogeneous populations: evidence from the South African water sector," MPRA Paper 91549, University Library of Munich, Germany.
  64. Tobias Holmsgaard Larsen & Thomas Lundhede & Søren Bøye Olsen, 2020. "Assessing the value of surface water and groundwater quality improvements when time lags and outcome uncertainty exist: Results from a choice experiment survey across four different countries," IFRO Working Paper 2020/12, University of Copenhagen, Department of Food and Resource Economics.
  65. Jürgen Meyerhoff & Morten Mørkbak & Søren Olsen, 2014. "A Meta-study Investigating the Sources of Protest Behaviour in Stated Preference Surveys," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 58(1), pages 35-57, May.
  66. Lei Yan & Xubin Lei & Kairong Hong & Hui Li & Mengyuan Chen, 2022. "Improving Farmer Willingness to Participate in the Transfer of Land Rights in Rural China: A Preference-Based Income Distribution Scheme," Land, MDPI, vol. 11(3), pages 1-22, March.
  67. Shi, Wei & Halstead, John M. & Huang, Ju-Chin, 2017. "Market Experience Matters: Status Quo Effect in the Economic Valuation of Consumer Preferences for Local Produce," 2017 Annual Meeting, July 30-August 1, Chicago, Illinois 258290, Agricultural and Applied Economics Association.
  68. Hassan, Suziana & Olsen, Søren Bøye & Thorsen, Bo Jellesmark, 2019. "Urban-rural divides in preferences for wetland conservation in Malaysia," Land Use Policy, Elsevier, vol. 84(C), pages 226-237.
  69. Mikolaj Czajkowski & Marek Giergiczny & William H. Greene, 2014. "Learning and Fatigue Effects Revisited: Investigating the Effects of Accounting for Unobservable Preference and Scale Heterogeneity," Land Economics, University of Wisconsin Press, vol. 90(2), pages 324-351.
  70. Christensen, Tove & Pedersen, Anders Branth & Nielsen, Helle Orstead & Morkbak, Morten Raun & Hasler, Berit & Denver, Sigrid, 2010. "How to increase the effectiveness of agri-environmental subsidy schemes through knowledge of farmer perceptions-a choice experiment on pesticide free buffer zones," 120th Seminar, September 2-4, 2010, Chania, Crete 109316, European Association of Agricultural Economists.
  71. Mavra Stithou & Stephen Hynes & Nick Hanley & Danny Campbell, 2012. "Estimating the Value of Achieving “Good Ecological Status”in the Boyne River Catchmentin Ireland Using Choice Experiments," The Economic and Social Review, Economic and Social Studies, vol. 43(3), pages 397-422.
  72. Nong, Yixin & Yin, Changbin & Yi, Xiaoyan & Ren, Jing & Chien, Hsiaoping, 2021. "Smallholder farmer preferences for diversifying farming with cover crops of sustainable farm management: A discrete choice experiment in Northwest China," Ecological Economics, Elsevier, vol. 186(C).
  73. Upton, Vincent & Dhubháin, Áine Ní & Bullock, Craig, 2012. "Preferences and values for afforestation: The effects of location and respondent understanding on forest attributes in a labelled choice experiment," Forest Policy and Economics, Elsevier, vol. 23(C), pages 17-27.
  74. Haixia Wu & Yan Ge, 2019. "Excessive Application of Fertilizer, Agricultural Non-Point Source Pollution, and Farmers’ Policy Choice," Sustainability, MDPI, vol. 11(4), pages 1-17, February.
  75. Jorien Veldwijk & Mattijs S Lambooij & Esther W de Bekker-Grob & Henriëtte A Smit & G Ardine de Wit, 2014. "The Effect of Including an Opt-Out Option in Discrete Choice Experiments," PLOS ONE, Public Library of Science, vol. 9(11), pages 1-9, November.
  76. Rhona Barr & Susana Mourato, 2012. "Investigating fishers� preferences for the design of marine Payments for Environmental Services schemes," GRI Working Papers 101, Grantham Research Institute on Climate Change and the Environment.
  77. Tavárez, Héctor & Elbakidze, Levan, 2021. "Urban forests valuation and environmental disposition: The case of Puerto Rico," Forest Policy and Economics, Elsevier, vol. 131(C).
  78. Paolo Liberati & Francesco Crespi & Massimo Paradiso & Simone Tedeschi & Antonio Scialà, 2018. "Smokers Are Different: The Heterogeneity Of Smokers’ Responses To Price Increases," Departmental Working Papers of Economics - University 'Roma Tre' 0237, Department of Economics - University Roma Tre.
  79. Ryffel, Andrea Nathalie & Rid, Wolfgang & Grêt-Regamey, Adrienne, 2014. "Land use trade-offs for flood protection: A choice experiment with visualizations," Ecosystem Services, Elsevier, vol. 10(C), pages 111-123.
  80. Vásquez Lavin, Felipe & Barrientos, Manuel & Castillo, Álvaro & Herrera, Iván & Ponce Oliva, Roberto D., 2020. "Firewood certification programs: Key attributes and policy implications," Energy Policy, Elsevier, vol. 137(C).
  81. Rakotonarivo, O. Sarobidy & Jacobsen, Jette B. & Larsen, Helle O. & Jones, Julia P.G. & Nielsen, Martin R. & Ramamonjisoa, Bruno S. & Mandimbiniaina, Rina H. & Hockley, Neal, 2017. "Qualitative and Quantitative Evidence on the True Local Welfare Costs of Forest Conservation in Madagascar: Are Discrete Choice Experiments a Valid ex ante Tool?," World Development, Elsevier, vol. 94(C), pages 478-491.
  82. Céline Moreaux & Jette Bredahl Jacobsen & Jürgen Meyerhoff & Bo Dalsgaard & Carsten Rahbek & Niels Strange, 2023. "Distance and Regional Effects on the Value of Wild Bee Conservation," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 84(1), pages 37-63, January.
  83. Gonçalves, Tânia & Lourenço-Gomes, Lina & Pinto, Lígia M. Costa, 2022. "The role of attribute non-attendance on consumer decision-making: Theoretical insights and empirical evidence," Economic Analysis and Policy, Elsevier, vol. 76(C), pages 788-805.
  84. Maria Cunha-e-Sá & Lívia Madureira & Luis Nunes & Vladimir Otrachshenko, 2012. "Protesting and Justifying: A Latent Class Model for Contingent Valuation with Attitudinal Data," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 52(4), pages 531-548, August.
  85. Vecchiato, D. & Tempesta, T., 2013. "Valuing the benefits of an afforestation project in a peri-urban area with choice experiments," Forest Policy and Economics, Elsevier, vol. 26(C), pages 111-120.
  86. Klaus Glenk & Julia Martin-Ortega & Manuel Pulido-Velazquez & Jacqueline Potts, 2015. "Inferring Attribute Non-attendance from Discrete Choice Experiments: Implications for Benefit Transfer," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 60(4), pages 497-520, April.
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