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Pricing risk and ambiguity: the effect of perspective taking

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There is a large literature showing that willingness-to-accept (WTA) is usually much higher than willingness-to-pay (WTP) in empirical studies although they should be roughly equal according to traditional economic theory. A second stream of literature shows that people are typically ambiguity avers...

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Bibliographic Details
Main Authors: Trautmann, Stefan T. (Author) , Schmidt, Ulrich (Author)
Format: Book/Monograph Working Paper
Language:English
Published: Kiel 2011
Series:Kieler Arbeitspapiere 1727
In: Kieler Arbeitspapiere (1727)

Online Access:Verlag: http://www.ifw-members.ifw-kiel.de/publications/pricing-risk-and-ambiguity-the-effect-of-perspective-taking
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Author Notes:Stefan T. Trautmann, Ulrich Schmidt
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Pricing risk and ambiguity: the effect of perspective taking by Trautmann, Stefan T. (Author) , Schmidt, Ulrich (Author) ,


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