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The value of private versus public risk and pure altruism: an experimental economics test

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  • Kent D. Messer
  • Gregory L. Poe
  • William D. Schulze

Abstract

In 1996, Johannesson et al . published a paper entitled ‘The Value of Private Safety versus the Value of Public Safety’. Based on the preliminary evidence from a hypothetical contingent valuation study for public and private safety, these authors argue that consumers behave as ‘pure altruists’ who consider the cost of a program that might be imposed on other voters when they determine their maximum willingness-to-pay for public safety programs. The authors conclude that further empirical research in this area is warranted. This article presents a set of laboratory economics experiments to test Johannesson et al .'s conjecture under controlled conditions in which participants face an actual risk of financial loss. The laboratory results extend those of Johannesson et al .'s, providing strong evidence of pure altruism in coercive settings involving public risks.

Suggested Citation

  • Kent D. Messer & Gregory L. Poe & William D. Schulze, 2013. "The value of private versus public risk and pure altruism: an experimental economics test," Applied Economics, Taylor & Francis Journals, vol. 45(9), pages 1089-1097, March.
    • Handle: RePEc:taf:applec:45:y:2013:i:9:p:1089-1097
    DOI: 10.1080/00036846.2011.608645
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    Cited by:

    1. Zhuo Liu & Christopher A. Kanter & Kent D. Messer & Harry M. Kaiser, 2013. "Identifying significant characteristics of organic milk consumers: a CART analysis of an artefactual field experiment," Applied Economics, Taylor & Francis Journals, vol. 45(21), pages 3110-3121, July.
    2. Morgan Beeson & Susan Chilton & Michael Jones-Lee & Hugh Metcalf & Jytte Seested Nielsen, 2019. "Can a ‘veil of ignorance’ reduce the impact of distortionary taxation on public good valuations?," Journal of Risk and Uncertainty, Springer, vol. 58(2), pages 245-262, June.
    3. Maik Kecinski & Deborah Kerley Keisner & Kent D. Messer & William D. Schulze, 2018. "Measuring Stigma: The Behavioral Implications of Disgust," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 70(1), pages 131-146, May.
    4. Gyrd-Hansen, Dorte & Kjær, Trine & Seested Nielsen, Jytte, 2016. "The value of mortality risk reductions. Pure altruism – a confounder?," Journal of Health Economics, Elsevier, vol. 49(C), pages 184-192.
    5. Deborah Kerley Keisner & Kent D. Messer & William D. Schulze & Homa Zarghamee, 2013. "Testing Social Preferences for an Economic “Bad”: An Artefactual Field Experiment," Scandinavian Journal of Economics, Wiley Blackwell, vol. 115(1), pages 27-61, January.
    6. Simonsen, Nicolai Fink & Kjær, Trine & Gyrd-Hansen, Dorte, 2021. "Pure altruism and misjudgement: A bad combination?," Journal of Health Economics, Elsevier, vol. 80(C).

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