Does Part-Whole Bias Exist? An Experimental Investigation
The existence of part-whole bias has been hotly disputed in the recent contingent valuation literature. This paper reports on an experiment into part-whole bias. Employing vouchers for parts of a restaurant meal and using an incentive compatible procedure, valuations of the parts and of the whole were elicited. The sum of the valuations of the parts consistently exceeded that of the whole, providing evidence of the existence of part-whole bias in a context where traditional explanations would not have predicted it. Coauthors are Alistair Munro, Bruce Rhodes, Chris Starmer, and Robert Sugden. Copyright 1997 by Royal Economic Society.
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Volume (Year): 107 (1997)
Issue (Month): 441 (March)
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