2010
DOI: 10.3386/w16036
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How Can Behavioral Economics Inform Non-Market Valuation? An Example from the Preference Reversal Literature

Abstract: Psychological insights have made inroads within most major areas of study in economics. One area where less advance has been made is environmental and resource economics. In this study, we examine the implications of preference reversals over evaluation modes, in which stated economic values critically depend on whether the good is valued jointly with others or in isolation. The question arises because two commonly used methods for eliciting stated preferences differ in that one presents objects together and a… Show more

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Cited by 5 publications
(16 citation statements)
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“…In both field experiments we could not replicate strong evaluation mode effects as in the original studies that studied preference reversals Alevy et al 2011). In our experiments, we only observe weak evaluation mode effects.…”
Section: Discussioncontrasting
confidence: 47%
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“…In both field experiments we could not replicate strong evaluation mode effects as in the original studies that studied preference reversals Alevy et al 2011). In our experiments, we only observe weak evaluation mode effects.…”
Section: Discussioncontrasting
confidence: 47%
“…Overall, while we can't replicate strong evaluation mode effects as in List (2002) and Alevy et al (2011) we do observe weak evaluation mode effects. It also appears that the IV method is more susceptible in generating inconsistent preference orderings than the CV method.…”
Section: Does CV and Iv Generate Consistent Preference Orderings?mentioning
confidence: 76%
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