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Values of Gains and Losses: Reference States and Choice of Measure

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  • Jack Knetsch

Abstract

Laboratory and field experiments have grown significantly in prominence over the past decade. The experimental method provides randomization in key variables therefore permitting a deeper understanding of important economic phenomena. This path-breaking volume provides a valuable collection of experimental work within the area of environmental and resource economics and showcases how laboratory and field experiments can be used for both positive and normative purposes.
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  • Jack Knetsch, 2010. "Values of Gains and Losses: Reference States and Choice of Measure," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 46(2), pages 179-188, June.
    • Handle: RePEc:kap:enreec:v:46:y:2010:i:2:p:179-188
    DOI: 10.1007/s10640-010-9355-8
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    8. Jack Knetsch & Fang-Fang Tang & Richard Thaler, 2001. "The Endowment Effect and Repeated Market Trials: Is the Vickrey Auction Demand Revealing?," Experimental Economics, Springer;Economic Science Association, vol. 4(3), pages 257-269, December.
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    14. Knetsch, Jack L. & Wong, Wei-Kang, 2009. "The endowment effect and the reference state: Evidence and manipulations," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 407-413, August.
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    20. 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.
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    Cited by:

    1. Gardner Brown & Daniel Hagen, 2010. "Behavioral Economics and the Environment," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 46(2), pages 139-146, June.

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