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Emotions, Morality and Public Goods: The WTA-WTP Disparity Revisited

Report
Authors Anders Biel
Olof Johansson-Stenman
Andreas Nilsson
Place of publication Göteborg
Publication year 2006
Published at Department of Psychology
Department of Economics, Environmental Economics Unit
Language en
Links hdl.handle.net/2077/2728
Keywords Willingness to pay; Willingness to accept gap; Endowment effect; Emotions; Ethics; Experiments
Subject categories Economics

Abstract

Empirical evidence suggests that people´s maximum willingness to pay for having a good is often substantially lower than their minimum willingness to accept not having it, and that this discrepancy tends to be especially large when valuing public goods. This paper hypothesizes that differences in emotions (e.g. regret) and moral perceptions can account for much of this discrepancy for public goods. A simple, real-money dichotomous-choice experiment is set up to test these hypotheses, which are largely supported.

Page Manager: Webmaster|Last update: 9/11/2012
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