| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w23954 |
| 来源ID | Working Paper 23954 |
| Willingness to Pay and Willingness to Accept are Probably Less Correlated Than You Think | |
| Jonathan Chapman; Mark Dean; Pietro Ortoleva; Erik Snowberg; Colin Camerer | |
| 发表日期 | 2017-10-23 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | An enormous literature documents that willingness to pay (WTP) is less than willingness to accept (WTA) a monetary amount for an object, a phenomenon called the endowment effect. Using data from an incentivized survey of a representative sample of 3,000 U.S. adults, we add one (probably) surprising additional finding: WTA and WTP for a lottery are, at best, slightly correlated. Across all respondents, the correlation is slightly negative. A meta-study of published experiments with university students shows a correlation of around 0.15--0.2, consistent with the correlation in our data for high-IQ respondents. While poorly related to each other, WTA and WTP are closely related to different measures of risk aversion, and relatively stable across time. We show that the endowment effect is not related to individual-level measures of loss aversion, counter to Prospect Theory or Stochastic Reference Dependence. |
| 主题 | Econometrics ; Data Collection ; Microeconomics ; Economics of Information ; Behavioral Economics |
| URL | https://www.nber.org/papers/w23954 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/581627 |
| 推荐引用方式 GB/T 7714 | Jonathan Chapman,Mark Dean,Pietro Ortoleva,et al. Willingness to Pay and Willingness to Accept are Probably Less Correlated Than You Think. 2017. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w23954.pdf（1679KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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