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WTP and WTA in repeated trial experiments: Learning or leading?

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  • Morrison, Gwendolyn C.

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  • Morrison, Gwendolyn C., 2000. "WTP and WTA in repeated trial experiments: Learning or leading?," Journal of Economic Psychology, Elsevier, vol. 21(1), pages 57-72, February.
    • Handle: RePEc:eee:joepsy:v:21:y:2000:i:1:p:57-72
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    1. Jack L. Knetsch & J. A. Sinden, 1984. "Willingness to Pay and Compensation Demanded: Experimental Evidence of an Unexpected Disparity in Measures of Value," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 99(3), pages 507-521.
    2. Ian Bateman & Alistair Munro & Bruce Rhodes & Chris Starmer & Robert Sugden, 1997. "A Test of the Theory of Reference-Dependent Preferences," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 479-505.
    3. Morrison, Gwendolyn C, 1997. "Resolving Differences in Willingness to Pay and Willingness to Accept: Comment," American Economic Review, American Economic Association, vol. 87(1), pages 236-240, March.
    4. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    5. 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 1325-1348, December.
    6. Don L. Coursey & John L. Hovis & William D. Schulze, 1987. "The Disparity Between Willingness to Accept and Willingness to Pay Measures of Value," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(3), pages 679-690.
    7. 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 635-647, June.
    8. Jack L. Knetsch & J. A. Sinden, 1987. "The Persistence of Evaluation Disparities," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(3), pages 691-695.
    9. Thaler, Richard, 1980. "Toward a positive theory of consumer choice," Journal of Economic Behavior & Organization, Elsevier, vol. 1(1), pages 39-60, March.
    10. Shogren, Jason F. & Seung Y. Shin & Dermot J. Hayes & James B. Kliebenstein, 1994. "Resolving Differences in Willingness to Pay and Willingness to Accept," American Economic Review, American Economic Association, vol. 84(1), pages 255-270, March.
    11. Shogren, Jason F & Hayes, Dermot J, 1997. "Resolving Differences in Willingness to Pay and Willingness to Accept: Reply," American Economic Review, American Economic Association, vol. 87(1), pages 241-244, March.
    12. Gwendolyn Morrison, 1997. "Willingness to pay and willingness to accept: some evidence of an endowment effect," Applied Economics, Taylor & Francis Journals, vol. 29(4), pages 411-417.
    13. Jones-Lee, Michael W & Loomes, Graham & Philips, P R, 1995. "Valuing the Prevention of Non-fatal Road Injuries: Contingent Valuation vs. Standard Gambles," Oxford Economic Papers, Oxford University Press, vol. 47(4), pages 676-695, October.
    14. Brookshire, David S & Coursey, Don L, 1987. "Measuring the Value of a Public Good: An Empirical Comparison of Elicitation Procedures," American Economic Review, American Economic Association, vol. 77(4), pages 554-566, September.
    15. Morrison, Gwendolyn C., 1998. "Understanding the disparity between WTP and WTA: endowment effect, substitutability, or imprecise preferences?," Economics Letters, Elsevier, vol. 59(2), pages 189-194, May.
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    Cited by:

    1. Valle, Haydn & Capon, Timothy & Harris, Michael & Reeson, Andrew, 2012. "Coordination and Strategic Behaviour in Landscape Auctions," 2012 Conference (56th), February 7-10, 2012, Fremantle, Australia 124466, Australian Agricultural and Resource Economics Society.
    2. Gabriela Scheufele & Jeff Bennett, 2013. "Effects of alternative elicitation formats in discrete choice experiments," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 57(2), pages 214-233, April.
    3. Tunçel, Tuba & Hammitt, James K., 2014. "A new meta-analysis on the WTP/WTA disparity," Journal of Environmental Economics and Management, Elsevier, vol. 68(1), pages 175-187.
    4. Holst, Gesa Sophie & Hermann, Daniel & Musshoff, Oliver, 2015. "Anchoring effects in an experimental auction – Are farmers anchored?," Journal of Economic Psychology, Elsevier, vol. 48(C), pages 106-117.
    5. Parkhurst, Gregory M. & Nowell, Clifford, 2014. "The Role of Confidence in Truthful Revelation of Private Values," Agricultural and Resource Economics Review, Northeastern Agricultural and Resource Economics Association, vol. 43(2), pages 1-16, August.
    6. Walton, D. & Thomas, J. A. & Cenek, P. D., 2004. "Self and others' willingness to pay for improvements to the paved road surface," Transportation Research Part A: Policy and Practice, Elsevier, vol. 38(7), pages 483-494, August.
    7. Lucy F. Ackert & Bryan K. Church & Gerald P. Dwyer, 2005. "When the shoe is on the other foot: experimental evidence on evaluation disparities," FRB Atlanta Working Paper 2005-17, Federal Reserve Bank of Atlanta.
    8. Gabriela D. Oliveira & Luis C. Dias, 2020. "The potential learning effect of a MCDA approach on consumer preferences for alternative fuel vehicles," Annals of Operations Research, Springer, vol. 293(2), pages 767-787, October.

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