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on Discrete Choice Models |
| By: | Peter A. Groothuis; John C. Whitehead |
| Abstract: | The provision point mechanism mitigates free riding behavior in economic experiments. In two contingent valuation method surveys, we implement the provision point design. We ask respondents about their perceptions about the success of the provision point mechanism. One of the determinants that identifies who is likely to feel the provision point will be met is the bid itself. We find that respondents who believe that the provision point would not be met are more likely to say no to a contingent valuation dichotomous choice question. The scenario rejection that arises may result in biased willingness to pay estimates. Key Words: Provision Point Mechanism, Contingent Valuation, Willingness to Pay, Public Goods |
| JEL: | Q51 |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:apl:wpaper:08-01&r=dcm |
| By: | Laurent, Gilles |
| Abstract: | Older adults constitute a rapidly growing demographic segment, but stereotypes persist about their consumer behavior. Thus, a more considered understanding of age-associated changes in decision making and choices is required. The authors's underlying theoretical model suggests that age-associated changes in cognition, affect, and goals interact to differentiate older consumers’ decision-making processes, brand choices, and habits from those of younger adults. They first review literature on stereotypes about the elderly and then turn to an analysis of age differences in the inputs (cognition, affect, and goals) and outputs (decisions, brand choices, and habits) of the choice process. |
| Keywords: | older consumers; decision making; choice |
| JEL: | D11 M31 |
| Date: | 2007–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:0880&r=dcm |
| By: | Luis G. Gonzalez (Max Planck Institute of Economics, Jena, Germany); M. Vittoria Levati (Max Planck Institute of Economics, Jena, Germany) |
| Abstract: | In a two-person ï¬nitely repeated public goods experiment, we use intentions data to interpret individual behavior. Based on a random-utility model speciï¬cation, we develop a relationship between a player's beliefs about others' behavior and his contributions' plans, and use this relationship to identify the player's most likely preference "type". Our estimation analysis indicates that players are heterogeneous in their preferences also at the intentional level. Moreover, our data show that deviations from intended actions are positively related to changes in beliefs, thereby suggesting that people are able to plan. |
| Keywords: | Public goods games, Experiments, Latent-class logit, Conditional cooperation |
| JEL: | C70 C72 C92 H41 |
| Date: | 2007–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:jrp:jrpwrp:2007-104&r=dcm |