Mind the Gap
Stated versus Revealed Donations and the Differential Role of Behavioral Factors
This paper uses a contingent valuation study and an actual donation request to assess the impact of behavioral factors on hypothetical bias in stated willingness-to-pay estimates. Our findings indicate that both the number of respondents willing to donate and the amount they are willing to donate differ substantially between treatments. Behavioral factors play a substantial and significant role; in particular, the extent of warm glow derived from giving and expectations about other people's behavior increase the extent of hypothetical bias in stated willingness-to-pay estimates. We suggest ways in which this may be incorporated in future contingent valuation study design.
Authors
Specifications
- Publication title
- Mind the Gap
- Publication subtitle
- Stated versus Revealed Donations and the Differential Role of Behavioral Factors
- Publication date
- 16 January 2019
- Publication type
- Article
- Page count
- 20
- Publication language
- English
- Magazine
- Land Economics
- ISSN
- 1543-8325
- Issue
- Volume 95, Number 2, May 2019 pp. 225-245
- Product number
- 4029
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