This study reports a new meta-analysis of papers that elicit willingness-to-pay (WTP) and
willingness-to-accept compensation (WTA) measures of value for the same good. We …

A large body of empirical research has examined the impact of trading perspective on
pricing of consumer products, with the typical finding being that selling prices exceed buying …

This paper introduces the Prince incentive system for measuring preferences. Prince
combines the tractability of direct matching, allowing for the precise and direct elicitation of …

Valuation gaps and exchange asymmetries are among the most widely studied phenomena
in the field of behavioral economics. They are also among the most widely applied in the law …

In the context of eliciting preferences for decision making under risk, we analyse the features
of four different elicitation methods—pairwise choice, willingness-to-pay, willingness-to …

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 …

We experimentally test for the role of choice uncertainty in generating “endowment effects”-
the robust empirical finding that endowing participants with an item raises their reported …

This paper proposes a route choice model that incorporates the various behavioral
mechanisms in route choice proposed in the literature including the shortest path, bounded …

We use four incentivized representative surveys to study the endowment effect for lotteries in
4,000 US adults. We replicate the standard finding of an endowment effect—the divergence …

The Petersburg paradox has led to much thought for three centuries. This paper describes
the paradox, discusses its resolutions advanced in the literature while alluding to the …