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dc.contributor.authorJacquemet, Nicolas
HAL ID: 12676
ORCID: 0000-0002-5056-9225
dc.contributor.authorJoule, Robert-Vincent
dc.contributor.authorLuchini, Stéphane
HAL ID: 742445
ORCID: 0000-0003-2721-0529
dc.contributor.authorShogren, Jason F.
dc.date.accessioned2012-07-11T11:27:45Z
dc.date.available2012-07-11T11:27:45Z
dc.date.issued2011
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/9717
dc.descriptionPublié dans la série des Cahiers de la Chaire Santé; n°10, mai 2012en
dc.language.isoenen
dc.subjectAuctionsen
dc.subjectDemand revelationen
dc.subjectExperimental valuationen
dc.subjectHypothetical biasen
dc.subject.ddc333en
dc.subject.classificationjelQ0en
dc.subject.classificationjelC9en
dc.subject.classificationjelC7en
dc.titleDo People Always Pay Less Than They Say? Testbed Laboratory Experiments With IV and HG Valuesen
dc.typeArticle accepté pour publication ou publié
dc.contributor.editoruniversityotherDepartment of Economics and Finance, University of Wyoming;États-Unis
dc.contributor.editoruniversityotherUniversity Paris I Panthéon–Sorbonn;France
dc.contributor.editoruniversityotherUniversity of Provence, Laboratoire de Psychologie Sociale;France
dc.contributor.editoruniversityotherParis School of Economics;France
dc.description.abstractenHypothetical bias is a long-standing issue in stated preference and contingent valuation studies—people tend to overstate their preferences when they do not experience the real monetary consequences of their decision. This view, however, has been challenged by recent evidence based on the elicitation of induced values (IV) in the lab and homegrown (HG) demand function from different countries. This paper uses an experimental design to assess the extent and relevance of hypothetical bias in demand elicitation exercises for both induced (IV) and homegrown (HG) values. For testbed purpose, we use a classic second-price auction to elicit preferences. Comparing the demand curve we elicit in both, hypothetical bias unambiguously (i) vanishes in an IV, private good context and (ii) persists in HG values elicitation context. This suggests hypothetical bias in preference elicitation appears to be driven by “preference formation” rather than “preference elicitation.” In addition, companion treatments highlight two sources of the discrepancy observed in the HG setting: the hypothetical context leads bidders to underestimate the constraints imposed by their budget limitations, whereas the real context creates pressure leading them to bid “zero” to opt out from the elicitation mechanism. As a result, there is a need for a demand elicitation procedure that helps subjects take the valuation exercise sincerely, but without putting extra pressure on them.en
dc.relation.isversionofjnlnameJournal of Public Economic Theory
dc.relation.isversionofjnlvol13en
dc.relation.isversionofjnlissue5en
dc.relation.isversionofjnldate2011
dc.relation.isversionofjnlpages857-882en
dc.relation.isversionofdoihttp://dx.doi.org/10.1111/j.1467-9779.2011.01522.xen
dc.description.sponsorshipprivateouien
dc.relation.isversionofjnlpublisherWileyen
dc.subject.ddclabelEconomie de la terre et des ressources naturellesen


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