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

• 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.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economics (hsv//eng)

Nyckelord

Willingness to pay; Willingness to accept gap; Endowment effect; Emotions; Ethics; Experiments

Publikations- och innehållstyp

vet (ämneskategori)

rap (ämneskategori)