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The willingness to pay for voice in dictator games

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  • Langenbach, Pascal
  • Friehe, Tim

Abstract

Voice is valuable in relationships, but how much are people willing to pay for it? This paper reports findings about recipients’ willingness to pay for voice in standard dictator games. From our data, we obtain two key findings: first, people underestimate the true value of voice and, second, they are particularly skeptical of the value of voice after an irrevocable allocation decision has already been made (i.e., people underrate the benefits from anticipated messages).

Suggested Citation

  • Langenbach, Pascal & Friehe, Tim, 2023. "The willingness to pay for voice in dictator games," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 107(C).
    • Handle: RePEc:eee:soceco:v:107:y:2023:i:c:s221480432300143x
    DOI: 10.1016/j.socec.2023.102117
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    More about this item

    Keywords

    Dictator game; Communication; Willingness to pay; Social preferences;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior

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