IDEAS home Printed from https://ideas.repec.org/p/ags/aare13/152195.html
   My bibliography  Save this paper

The Market for Essays

Author

Listed:
  • Burton, Michael P.
  • Rigby, Dan

Abstract

We investigate the market in bespoke essays from commercial providers which students buy to submit at their University. We conduct choice experiments at 3 universities to investigate students’willingness to enter the market. Half of the sample reveal a willingness to buy. We identify valuations of essays of varying grade and how these values decay as students’ assessments of their own abilities, and the penalty if caught, increase. A choice experiment over monetary gambles yields individual-speci…c risk aversion estimates which signi…cantly a¤ect the probability that a student will buy, as does having English as their …rst language.

Suggested Citation

  • Burton, Michael P. & Rigby, Dan, 2012. "The Market for Essays," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia 152195, Australian Agricultural and Resource Economics Society.
  • Handle: RePEc:ags:aare13:152195
    as

    Download full text from publisher

    File URL: http://purl.umn.edu/152195
    Download Restriction: no

    References listed on IDEAS

    as
    1. Alison L. Booth & Patrick Nolen, 2012. "Gender differences in risk behaviour: does nurture matter?," Economic Journal, Royal Economic Society, vol. 122(558), pages 56-78, February.
    2. Krinsky, Itzhak & Robb, A Leslie, 1986. "On Approximating the Statistical Properties of Elasticities," The Review of Economics and Statistics, MIT Press, vol. 68(4), pages 715-719, November.
    3. Steffen Andersen & Glenn Harrison & Arne Hole & Morten Lau & E. Rutström, 2012. "Non-linear mixed logit," Theory and Decision, Springer, pages 77-96.
    4. Charles A. Holt & Susan K. Laury, 2002. "Risk Aversion and Incentive Effects," American Economic Review, American Economic Association, vol. 92(5), pages 1644-1655, December.
    5. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521766555, December.
    6. Ferrini, Silvia & Scarpa, Riccardo, 2007. "Designs with a priori information for nonmarket valuation with choice experiments: A Monte Carlo study," Journal of Environmental Economics and Management, Elsevier, vol. 53(3), pages 342-363, May.
    7. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    8. Epstein, Larry G & Zin, Stanley E, 1989. "Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework," Econometrica, Econometric Society, vol. 57(4), pages 937-969, July.
    9. Alan Collins & Guy Judge & Neil Rickman, 2007. "On the economics of plagiarism," European Journal of Law and Economics, Springer, vol. 24(2), pages 93-107, October.
    10. Levy, H & Markowtiz, H M, 1979. "Approximating Expected Utility by a Function of Mean and Variance," American Economic Review, American Economic Association, vol. 69(3), pages 308-317, June.
    11. Matthew Rabin & Richard H. Thaler, 2001. "Anomalies: Risk Aversion," Journal of Economic Perspectives, American Economic Association, vol. 15(1), pages 219-232, Winter.
    12. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
    13. Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(5), pages 447-470.
    14. Kelvin J. Lancaster, 1966. "A New Approach to Consumer Theory," Journal of Political Economy, University of Chicago Press, vol. 74, pages 132-132.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    I21; K42; D81; D82; Marketing; Research and Development/Tech Change/Emerging Technologies; Teaching/Communication/Extension/Profession;

    JEL classification:

    • I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:aare13:152195. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search). General contact details of provider: http://edirc.repec.org/data/aaresea.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.