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Biased valuations, damage assessments, and policy choices: The choice of measure matters

  • Knetsch, Jack L.

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File URL: http://www.sciencedirect.com/science/article/B6VDY-4NHD98P-2/2/ae6143106aa20b1b958ab88ec20752c1
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Article provided by Elsevier in its journal Ecological Economics.

Volume (Year): 63 (2007)
Issue (Month): 4 (September)
Pages: 684-689

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Handle: RePEc:eee:ecolec:v:63:y:2007:i:4:p:684-689
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolecon

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  1. Horowitz, John K. & McConnell, Kenneth E., 2002. "A Review of WTA/WTP Studies," Journal of Environmental Economics and Management, Elsevier, vol. 44(3), pages 426-447, November.
  2. John List, 2003. "Does market experience eliminate market anomalies?," Natural Field Experiments 00297, The Field Experiments Website.
  3. Hanemann, W Michael, 1991. "Willingness to Pay and Willingness to Accept: How Much Can They Differ?," American Economic Review, American Economic Association, vol. 81(3), pages 635-47, June.
  4. Matthew Rabin, 1998. "Psychology and Economics," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 11-46, March.
  5. Jack Knetsch & Fang-Fang Tang & Richard Thaler, 2001. "The Endowment Effect and Repeated Market Trials: Is the Vickrey Auction Demand Revealing?," Experimental Economics, Springer, vol. 4(3), pages 257-269, December.
  6. Jack L. Knetsch, 2005. "The Appropriate Choice Of Valuation Measure In Usual Cases Of Losses Valued More Than Gains," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 50(sp), pages 393-406.
  7. Kachelmeier, Steven J & Shehata, Mohamed, 1992. "Examining Risk Preferences under High Monetary Incentives: Experimental Evidence from the People's Republic of China," American Economic Review, American Economic Association, vol. 82(5), pages 1120-41, December.
  8. Brown, Thomas C. & Gregory, Robin, 1999. "Why the WTA-WTP disparity matters," Ecological Economics, Elsevier, vol. 28(3), pages 323-335, March.
  9. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March.
  10. Bromley, Daniel W., 1995. "Property rights and natural resource damage assessments," Ecological Economics, Elsevier, vol. 14(2), pages 129-135, August.
  11. Kahneman, Daniel & Knetsch, Jack L & Thaler, Richard H, 1990. "Experimental Tests of the Endowment Effect and the Coase Theorem," Journal of Political Economy, University of Chicago Press, vol. 98(6), pages 1325-48, December.
  12. Anna Alberini & Alan Krupnick, 2000. "Cost-of-Illness and Willingness-to-Pay Estimates of the Benefits of Improved Air Quality: Evidence from Taiwan," Land Economics, University of Wisconsin Press, vol. 76(1), pages 37-53.
  13. Daniel S. Putler, 1992. "Incorporating Reference Price Effects into a Theory of Consumer Choice," Marketing Science, INFORMS, vol. 11(3), pages 287-309.
  14. Richard H. Thaler & Shlomo Benartzi, 2004. "Save More Tomorrow (TM): Using Behavioral Economics to Increase Employee Saving," Journal of Political Economy, University of Chicago Press, vol. 112(S1), pages S164-S187, February.
  15. Daniel Kahneman & Jack L. Knetsch & Richard H. Thaler, 1991. "Anomalies: The Endowment Effect, Loss Aversion, and Status Quo Bias," Journal of Economic Perspectives, American Economic Association, vol. 5(1), pages 193-206, Winter.
  16. Terrance Odean, 1998. "Are Investors Reluctant to Realize Their Losses?," Journal of Finance, American Finance Association, vol. 53(5), pages 1775-1798, October.
  17. George F. Loewenstein, 1988. "Frames of Mind in Intertemporal Choice," Management Science, INFORMS, vol. 34(2), pages 200-214, February.
  18. Samuelson, William & Zeckhauser, Richard, 1988. " Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, vol. 1(1), pages 7-59, March.
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